Nirmala Sitharaman to visit Jammu and Kashmir on Nov 23

This will be the first visit of the Finance Minister after the revocation of Article 370 in Jammu and Kashmir on Aug 5, 2019 that resulted into bifurcation of erstwhile state into two Union Territories.

"The Finance Minister in the first leg of her two day visit will be visiting to Jammu on November 23," official sources here said on Saturday.

They said that the Finance Minister will be reviewing the status of the economy that remained hit especially after Art 370 revocation and COVID pandemic.

"She will be holding deliberations with the stakeholders from business, trade and industry delegations at Jammu Haat on the first day," sources added.

"The visit was planned in the backdrop of Union Ministers feedback to the Finance Minister as a part of their recently concluded public outreach program to the UT," they said.

The Finance Minister will be getting first hand account of the issues related to investment, development and manufacturing activities in the UT.

The industrialists in J&K have been seeking Reimbursement of SGST to Local Existing MSME Units as on 31-03- 2021, One Time Relaxation for filing the Time Barred GST Reimbursement and Budgetary Support Claims by the Industrial Units as per SRO No. 519/521/63 and 431, Reimbursement of 5% Interest Subvention Benefit to Industrial Units having Credit Facility from Banks Business Units located outside Union Territory.

Owing to Covid-19, Rs 1,350 crore rehabilitation package was also announced in the recent past by UT Government to revive businesses in J&K which included 5 per cent interest subvention besides certain waivers of PDD and PHE dues.

The Union finance minister also had interaction with Jammu and Kashmir Lieutenant Governor Manoj Sinha last week along with chief ministers, finance ministers of all states via virtual conference, with a view to enhance the investment climate in the country and to step up investment, infrastructure, and growth through a consultative process in the post-pandemic world.

The issues highlighted by the Lieutenant Governor will be the areas of focus during the review meetings between the Finance Minister and the various stakeholders on Nov 23, 24 at Jammu and Srinagar.