Excelsior Correspondent
SRINAGAR, June 13: A high level meeting held under the chairmanship of Minister of State for Industries and Commerce, Sajjad Ahmad Kichloo today discussed issues related to Rs. 296 crore new industrial package sanctioned by the Centre for J&K and its effective and efficient implementation on ground.
Mr. Kichloo asked the heads of departments and Public Sector Undertakings under the administrative control of the Industries and Commerce Department to launch a vigorous information and awareness campaign about the benefits of the package especially about its new features so that entrepreneurs could avail the incentives.
He said the earlier package which ended in June last year was selective and only few sectors were able to avail its benefits whereas the new industrial package is comprehensive and some more sectors have been brought under its ambit. He said the new industrial package has been initially extended for five years.
“Now all the new and existing industrial units would be eligible for Capital Investment Subsidy (CIS) of 15% whereas small and medium enterprises would be eligible for CIS of 30%”, Mr. Kichloo added.
Mr. Kichloo said in the new industrial package units under both organized and unorganized sectors are eligible for incentives and subsides. He said the earlier package was confined to the industrial estates only, which has now been extended to tourists sector, and food processing units as well.
Mr. Kichloo said that under the new industrial package 8 new industrial estates in Jammu division and 12 in Kashmir division will be developed.
He said that the Central Investment Subsidy Scheme, Central Interest Subsidy Scheme, Central Comprehensive Insurance Scheme and Transport Subsidy Schemes have been approved under the new package.
The Commissioner Secretary Industries and Commerce Shantmanu while briefing the meeting about the new features of the new industrial package.
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