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J-K receives record investment of Rs 1547 cr during current fiscal year: Centre

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The Centre on Tuesday said that Jammu and Kashmir received a record investment of Rs 1547.87 crore during the current fiscal year, stating that this is the highest ever compared to any previous financial years.

Minister of State for Home Affairs Nityanand Rai informed the Lok Sabha that as per the information provided by the Government of Jammu and Kashmir, the investments during the last five years and the current year include Rs 840.55 crore in 2017-18, Rs 590.97 crore 2018-19, Rs 296.64 crore 2019-20, Rs 412.74 crore 2020 to 21, 376.76 2021-22 and Rs 1547.87 crore from 2022 upto Jan 2023.

The minister said during the year 2022-23, till January 2023, a record investment of Rs 1547.87 crore has been received by the Union Territory.

“The investment during the current financial year is the highest ever compared to any of the previous financial years,” he said.

He also said that the government expects investments to further increase in the next five years in various important sectors like manufacturing, service sector, healthcare and pharmaceuticals, agro based industry, tourism (including film & medical tourism) etc.

“In this connection, the government of Jammu and Kashmir has already received investment proposals worth Rs 64,058 crore. The Centre has notified the new Central Sector Scheme for Industrial Development of Union Territory of Jammu and Kashmir on 19.02.2021,” he said.

He added various policy initiatives have been taken by the government of Jammu and Kashmir, which include J-K Industrial Policy 2021-30, J-K Industrial Land Allotment Policy 2021-30, J-K Private Industrial Estate Development Policy 2021-30, J-K Wool Processing, Handicrafts and Handloom Policy 2020.

“In addition, various other measures have been taken to improve the business environment through ease of doing business, economic package, operation of night flights from Jammu and Srinagar etc,” he said. (KNO)

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