Excelsior Correspondent
JAMMU, Jan 9: Complime-nting Prime Minister, Narendra Modi and Lt Governor, J&K, Manoj Sinha for announcing mega industrial package for J&K, BJP UT president, Ravinder Raina today said that new package will go a long way in ushering an era of socio economic development of the region as it will generate more employment, both in rural and urban areas of the UT, which will boost socio-economic development of the region.
Talking to reporters here, today along with former Deputy CM and senior party leader Kavinder Gupta and party programme incharge, Ajay Pargal, Raina said that for the first time industrial package has been announced with commitment up to 2037 to build confidence among the stake holders and to the new industrialists.
Raina said that the employment generation is the underlying theme of this scheme giving boost to holistic and balanced development of Jammu and Kashmir.
He stressed that the core objective and vision of the scheme is to lay special emphasis on sustainable development by creating a favourable ecosystem for new investment as also fostering the existing partners of growth. The scheme will attract unprecedented investment and create direct and indirect employment, he added.
Raina further stated that for the purpose of equitable and balanced development, the new package lays special focus on creation of zones wherein the industrially backward areas will be given higher incentives as higher subsidies to the units in backward region of J&K. The Prime Minister has total outlaid the scheme for Rs. 28,400 crore covering a period of about 17 years. The scheme covers not only the manufacturing sector but aims to give a major fillip to service industry as well. The target is to generate employment of 4.5 lakh in due course of time, he added.
He highlighted that the scheme aspires to take industrial development to the block level in UT of J&K as well as substantial expansion of existing units. Besides, while encouraging new investment, the scheme also nurtures the existing industries in J&K.
The scheme has been simplified on the lines of ease of doing business by bringing one major incentive- GST linked incentive- that will ensure less compliance burden. The quantum of assistance is much higher in the proposed scheme as compared to the earlier IDS, as the GST linked incentive alone provides for a maximum of three times of investment made in plant & machinery. In addition to this capital incentive and capital interest subvention is also provided, he added.
Raina has also appreciated the efforts of officers of Industries & Commerce Department who worked day and night for the formulation of this policy friendly to stake holders especially Manoj Kumar Dwivedi, Commissioner Secretary I&C and Ms. Anoo Malhotra, Director of Industries & Commerce, Jammu.
Follow our WhatsApp channel
