Rs 28,400 crore earmarked to encourage new investment for industrial development in J&K: Centre

Srinagar : The Centre on Tuesday that it has notified New Central Sector Scheme (NCSS) for industrial development in Jammu and Kashmir with financial outlay of Rs 28,400 crore for encouraging new investments. In a written reply to a question in the Lok Sabha, minister of state for home affairs Nityanand Rai, said that the incentives being provided under NCSS include capital investment incentive, capital interest subvention, goods & services tax linked incentive and working capital interest subvention.

He said that Jammu and Kashmir administration has taken various policy initiatives to boost the industry sector and making it as investor friendly destination. The minister said that the initiatives include J&K Industrial Policy, 2021-30, J&K Industrial Land Allotment Policy, 2021-30, J&K Private Industrial Estate Development Policy, 2021-30, Policy for Promotion of Foreign Investment in Industrial Sector in J&K, 2022, J&K Single Window Rules, 2021, Turnover Incentive Scheme, 2021, J&K Wool Processing, Handloom and Handicraft Policy, 2020, Financial Support Scheme for Cooperatives/Self Help Groups, 2020, Credit Card Scheme for Artisans and Weavers, 2020, Kharkhandar Scheme for Development of Craft Sector in J&K, Export Subsidy Scheme, 2021, Revised Education Scheme 2022 for Artisans/Weavers of Handicrafts and Handloom Department, and J&K Start Up Policy 2024-27.

CNI