J-K gets investment proposal worth 51,000 crore: MHA

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Investment proposals worth Rs 51,000 crore have been received by Jammu and Kashmir so far, the Ministry of Home Affairs said on Wednesday.

Replying to a question, the Union Minister of State for Home Affairs Nityanand Rai said that the J-K government has reported receiving proposals for investments worth Rs 51,000 crore so far.

“In order to boost the industrial development in the UT, the J-K government has already notified industrial policy, private industrial estate development policy and Industrial land allotment policy,” he said.

“Furthermore, the Union Government has notified the New Central Sector Scheme for Industrial Development of UT on 19 February last year to attract capital investment with financial output of Rs 28,400 crore upto 2037,” he added.

The Scheme provides four types of incentives namely Capital Investment Incentive, Capital Interest Subvention, Goods & Services Tax Linked Incentive and Working Capital Interest Subvention.

He said that the J-K government has also notified J&K Industrial Policy, J&K Private Industrial Estate Development Policy and J-K Industrial Land Allotment Policy to boost industrial development. (KNO)

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