Investment in J&K expected to reach Rs 35,000 cr by year end: Manoj Sinha
Jammu/IBNS: Lieutenant Governor Manoj Sinha highlighted the key reforms and steps taken for managing the union territory’s economy during Covid, its growth potential, besides putting across issues that require consideration by the administration during an interaction with the Union Finance Minister Nirmala Sitharaman.
Highlighting the steps taken for growth in the economy, Sinha said investment in J&K is expected to reach Rs 35,000 cr by December, 2021 and proposals for Rs 25,000 cr have already been received besides which land has been approved for proposals worth Rs 1,700 cr.
Out of 6,000 acres land earmarked for the development of industrial estates, 3,000 acres have already been identified.
Speaking on the tourism sector, he said the J&K Tourism Policy 2020 has been notified to boost the tourism sector.
He also informed that the tourist footfall has increased manifold in J&K during the winter period.
From 1,935 tourists in June, 2020, the number has increased to 12,82,572 in September, 2021.
The Lt Governor also observed that the tax collection has shown significant growth and resilience and the union territory is expecting to achieve GST and excise collection targets over the remaining period of this year.
On the steps taken for managing the economy, he said a holistic package of Rs 1,353 cr was announced during last year for an inclusive growth by which 3.44 lakh accounts of borrowers involving Rs 750 crore were benefited by interest subvention of five per cent under business revival.
The Lt Governor added that under the Atma Nirbhar Bharat Abhiyan, 766 beneficiaries benefitted under the WCDL (Working Capital Demand Loan) for business establishments involving Rs 96.68 crore, 61,641 beneficiaries benefitted under the GECL-1 (Guaranteed Emergency Credit Line-1) involving Rs 1,872.72 crore.
Free rice has been provided to 98,566 individual beneficiaries and pulses to 31,069 families, he said.
289 beneficiaries benefitted under the Business Support Loan General involving Rs 74.37 crore, Sinha said.