Jammu and Kashmir Lieutenant Governor Manoj Sinha (Photo/ANI)
Jammu and Kashmir Lieutenant Governor Manoj Sinha (Photo/ANI)

Centre approves new industrial development scheme worth Rs 28,400 cr for J-K

ANI | Updated: Jan 07, 2021 22:21 IST

Jammu (Jammu and Kashmir) [India], January 7 (ANI): In a major decision to encourage new investment in Jammu and Kashmir, the central government has approved a new industrial developmental scheme (IDS) with a total outlay of Rs 28,400 crores.
According to an official release, the scheme, which is approved with a total outlay of Rs 28,400 crore up to the year 2037, will go a long way in ushering an era of socio-economic development of the region as also catering to the aspirations of people.
Giving details of the scheme, Lieutenant Governor Manoj Sinha, in a press conference on Thursday said that the new scheme will give a major push to the economy of the region and help provide huge opportunities of employment to the people of Jammu and Kashmir.

The main purpose of the scheme is to generate employment beyond government jobs in both manufacturing and service sectors which directly leads to the socio-economic development of the region, the release added.
The scheme is being implemented with the vision that industry and service-led development of the Union Territory needs to be given a fresh thrust with emphasis on job creation, skill development and sustainable development by attracting new investment and nurturing the existing ones. It will provide major support to the local industry, besides the creation of new business opportunities, Sinha observed.
The Governor further expressed gratitude towards Prime Minister Narendra Modi for approving the New Central Sector Scheme for Industrial Development of Jammu and Kashmir.
"The new scheme will give a boost to domestic manufacturing in the region and help Jammu and Kashmir in becoming Aatmanirbhar. The Scheme will encourage new investment, substantial expansion and also nurture the existing industries in Jammu and Kashmir, he maintained. (ANI)