Will be announced after Cabinet nod
Excelsior Correspondent
JAMMU, Apr 4: With a view to boost industrial development in Ladakh, the Central Government has framed an ‘Industrial Development Scheme’ for the Union Territory with a total financial outlay of Rs 3500 crore.
The Scheme is likely to be unveiled shortly, official sources told the Excelsior.
The Industrial Development Scheme has been finalized by the Union Ministry of Commerce on the pattern of a scheme unveiled by it for Jammu & Kashmir in 2021 with a total financial outlay of Rs 28400 crore, the sources said.
“The Cabinet note for the scheme is yet to be approved by the Cabinet Committee on Economic Affairs (CCEA),” the sources said, adding the Scheme will be operational once it gets the Cabinet nod.
The Scheme will give a major boost to industrial development in the Union Territory of Ladakh on the lines of Jammu and Kashmir.
The J&K, it may be mentioned, has so far received industrial investment proposals to the tune of Rs 70,000 crore and they kept increasing with every passing month. Several proposals in J&K have also been implemented on ground. The UT also recently received first Foreign Direct Investment (FDI).
Sources said the Industrial Development Scheme for the Union Territory of Ladakh was expected to be launched in 2022-23, but it couldn’t be unveiled because of certain issues which are being resolved.
Initially, it was expected that the scheme will be launched in the year 2022-23 on the basis of which Rs 97.30 crore was demanded under the scheme in budgetary estimates 2022-23. However, scheme could not be launched till now and as per Expenditure Finance Committee (EFC) approval for the scheme, Rs. 97.30 crore is targeted to be utilised in 2023-24,” the sources stated.
The Centre is taking steps to make the scheme functional at the earliest.
“The Scheme is yet to be launched and is awaiting approval of the Cabinet Committee on Economic Affairs (CCEA),” sources said.
The Scheme will be swiftly implemented as and when approved by CCEA,” the sources said.
The Union Commerce Ministry is pursuing the matter with CCEA to revise the budgetary allocation, if required, based on the approval status of the scheme
Ladakh has its own Industrial Development Scheme as well.
The Central Government is taking the administration in the Union Territory of Ladakh into confidence while finalizing the Industrial Development Scheme.
The Industrial Development Scheme, as per the sources, will generate large number of job opportunities for the local people of Ladakh.
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