J&K LG announces Rs 28,400 cr mega Industrial Development Package for UT

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State News

Jan 07, 2021

1:52PM

J&K LG announces Rs 28,400 cr mega Industrial Development Package for UT

@manojsinha_

In the Union Territory of Jammu and Kashmir, Lieutenant Governor Manoj Sinha today announced the Government of India's approval for a mega Industrial Development Package worth 28,400 crore rupees.

While addressing a press conference in Jammu, the LG Sinha said that the Union Cabinet sanctioned the huge Industrial Development Package-2021 for J&K’s industrial sector that has been craving for the strong support from the Centre.
The LG said that the package aims at providing a huge boost to the existing industrial sector, setting up new units, creating 4.5 lakh jobs and at least investments of 20,000 crore rupees. The package will remain in force for 17 years i.e. till 2037.

The LG further added that with the announcement of the new industrial package, the Government of India has once again shown its commitment towards sowing the seeds of growth, prosperity and employment. He said, this is a historic Industrial package that will give a boost to the industrial sector in J&K, create employment and pave way for outside investments as well. He also disclosed that the package will act as a big relief to the existing industrialists and will cover the manufacturing units as well as the service sector as well that includes the Tourism and IT sector and will give J&K’s economy a new boost and lead the UT towards growth and sustainable development.

The LG stated that the administration led by him was working a long and short term strategy for streamlining the power infrastructure in J&K and the Union Territory has earned the first slot on road connectivity front and in the near future, every village will be connected through a better road. He said, in 2023, people of J&K will travel in the metro for the first time. He also said that a committee is examining the restoration of 4-G internet services in the remaining 18 districts of the Union Territory and there will be good news soon in the coming days.