J&K LG Sinha announces Rs 1,350 cr package for revival of ailing business

J&K LG Manoj Sinha

Abid Bashir

Srinagar (NVI): Jammu and Kashmir Lieutenant Governor Manoj Sinha today announced a mega economic package of Rs 1,350 crore for reviving the ailing business sector of the Union Territory.

Addressing a press conference at Rajbhawan, the J&K LG said it was just a beginning and with the active support of Prime Minister Narendera Modi, much more was in the offing.

He said that the government was mulling a “structured package” for transporters, drivers, auto-drivers, houseboat owners and shikara wallas besides other sectors who have suffered due to perpetual strife in the past over 20 years.

LG Sinha said that when he took over the reins of the UT a month ago, he had stated that resolution of people’s issues wasn’t possible without the participation and support of common people.

“On August 18 this year I met almost 35 delegations from various sectors after which a committee headed by my advisor KK Sharma was constituted. And I am happy that the committee has submitted its report in a time-bound manner,” Sinha said.

He added that he was glad to announce that for the first time an official committee has submitted it’s report in the shortest possible time.

During the presser, the LG said that the committee has recommended an economic package of Rs 1,350 crore for revival of ailing business sector in J&K. “I am glad to announce this package today with a message that this is just a beginning,” he added.

He further said that Rs 1,350 crore economic package is apart from Rs 1,400 crore package announced for J&K under Aatma Nirbhar Abhiyan of which Rs 6,000 crore is for power sector reforms etc.

Sinha also announced stamp duty exemption till March 2021 for all borrowers. “I would like to announce that from October 1, a special desk will be set up at every J&K Bank branch for youth including entrepreneurs,” the LG said.

Sinha said that the Government of India is working out a new industrial policy which will be ready soon, adding that, a different package will be worked out for tourism sector and hoteliers after thorough consultations with the stakeholders.