Limit of investments likely to be enhanced
*Proposals up, Pvt Ind Estates being developed
Sanjeev Pargal
JAMMU, July 20: Union Home Minister Amit Shah today reviewed Central Sector Scheme for Industrial Development of Jammu and Kashmir in New Delhi with Lieutenant Governor Manoj Sinha and top officials of Jammu and Kashmir, MHA and other stakeholders.
Chief Secretary Dr Arun Kumar Mehta and Commissioner/Secretary Industries & Commerce Vikramjit Singh besides senior MHA officials including Incharge of Jammu and Kashmir Union Territory attended the meeting.
Officials told the Excelsior that the meeting reportedly decided to enhance the limit of investments under Capital Investment Incentive for Health Sector.
“Lot of investments have already poured in health sector and more proposals are in the offing. The Government is of the view that investments in health sector will help Jammu and Kashmir a lot,” they said, adding this issue figured prominently in the meeting.
The meeting of Apex Committee which was primarily called by the Union Home Minister for review of new Central Sector Scheme for Industrial Development of Jammu and Kashmir discussed permitting phase-wise investment by the industrial units under NCSS, the officials said.
However, no official statement was issued on the meeting by the Union Home Ministry and the Jammu and Kashmir Government.
“The Capital Interest Subvention and Udhyam Registration Certificate also came up for discussions and decisions were reportedly taken regarding them,” as per the officials.
Another major issue for discussion was clarification regarding Freight, Demurrage and Inclusion/Exclusion of Taxes and Duties, they said and added that registration powers for units under NCSS-2021 and Relaxation in Clause-73 also figured at the meeting.
Officials said a series of steps to further boost industrial investments in Jammu and Kashmir were discussed during the meeting and some decisions were taken.
Jammu and Kashmir has already received investment proposals worth more than Rs 70,000 crore after launch of new Industrial Development Scheme. Prime Minister Narendra Modi had performed groundbreaking ceremony of industrial investments proposals worth Rs 38,080 crore at a rally here in April last year.
Steps to bring more investments including from abroad were also discussed, the officials said.
The industrial investments are expected to bring large scale employment opportunities for the youth in Jammu and Kashmir, they added.
Sources said the Government is anticipating private investments in Jammu and Kashmir to further go up once the pending proposals are cleared.
Some proposals for development of private Industrial Estates have also been received while many more are in the pipeline. Response to develop ‘Private Land Banks’ for industrial development has been very encouraging, the officials said.
The Government has fixed guidelines for development of private Industrial Estates in Jammu and Kashmir under which they will be entitled to Capital Infrastructure Subsidy depending on the investments.
“The developers of ‘Private Land Banks’ will be entitled to incentives as per the Jammu and Kashmir Private Land Development Policy while the industrial houses investing there will get the benefits under the Industrial Development Scheme,” the officials said, adding all districts are eligible for developing ‘Private Land Banks’.
The Government had earlier identified nearly 25,000 kanals worth Government Land Bank for industrial investments. With response very encouraging with national as well as international investors showing keen interest for investments in the Union Territory, the Government land was almost exhausted.
Officials expressed confidence that with development of ‘Private Land Bank’, the Government will be in a position to accommodate more private investments in Jammu and Kashmir as there were reports that investments might touch Rs 75,000 crore shortly as many corporate houses are in touch with the administration for investing in different sectors in the Union Territory.
It may be mentioned here that there has been huge rush of investments in Jammu and Kashmir by the private players from the country as well as abroad. Several builders had also shown keen interest in investments.
Many more companies were also reported to have approached the Jammu and Kashmir administration showing interest in investment in different sectors in the Union Territory.
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