Inside Kashmir

Financial outlay of Rs 28,400 cr for industrial development of J&K: C&I ministry.

Srinagar: The Ministry of Commerce and Industry Friday informed the Rajya Sabha that a new central sector scheme has been formulated and notified in the ensuing year with a financial outlay of Rs 28, 400 crore for Jammu and Kashmir up to 2037.

 

The information was shared by the Minister of State (MoS) Commerce & Industry (C&I) Som Prakash in Rajya Sabha in response to the queries regarding the new central scheme for industrial development and the details related to the same in the Union Territory of Jammu and Kashmir.

 

In a written reply filed to the Rajya Sabha, Som Prakash said that a new central sector scheme for industrial development in Jammu and Kashmir has been formulated.

 

Giving the details, the Minister said that a new central sector scheme for the industrial development of Jammu and Kashmir has been formulated and notified on 19.02.2021.

 

“The scheme with a total financial outlay of Rs 28,400 crore (up to the year 2037) provides four types of incentives,” Prakash said.

 

About the four types of incentives, the minister named capital Investment Incentive, capital Interest subvention, goods & service tax linked incentive (GST), and working capital interest subvention.

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