LG announces mega industrial development package of Rs. 28,400 crores for J&K

The Lieutenant Governor while informing about the mega scheme also added that with this step, the Indian government has once again shown its commitment towards the growth, employment, and prosperity of Jammu & Kashmir. 

Created On: Jan 7, 2021 18:44 IST
Mega project for Jammu & Kashmir
Mega project for Jammu & Kashmir

The Lieutenant Governor of Jammu and Kashmir, Manoj Sinha announced on January 7, 2021, that the central government has given its approval for a mega industrial development project worth Rs. 28,400 crores for the Union Territory.

LG Sinha while addressing a press conference in Jammu informed that the government-sanctioned a huge industrial development package-2021 for the industrial sector of Jammu & Kashmir that has also been craving strong support from the central government.

The Lieutenant Governor while informing about the mega scheme also added that with this step, the Indian government has once again shown its commitment towards the growth, employment, and prosperity of the region.

Objective:

The mega package according to LG will aim at providing a huge boost to the existing industrial sectors. It will create around 4.5 lakh jobs, will set up new units, and will encourage investments of at least Rs. 20,000 crores. The package will be for 17 years, i.e. till the year 2037.

Key Highlights:

The historical industrial package for the Union Territory will give a boost to the industrial sector, pave way for the outside investments, and will be able to create employment.

The mega package will also act as a big relief to the existing industrialists of Jammu & Kashmir and will cover manufacturing units and service sectors.

It will help the IT and Tourism sector and will also give the region’s economy a new boost and will lead the Union Territory towards growth and sustainable development.

Infrastructure development in Jammu & Kashmir:

The Lieutenant Governor informed that the administration led by him has been working on a long and short-term strategy for streamlining the power infrastructure in Jammu & Kashmir.

The region has earned the first slot on road connectivity and that in the near future every village will be connected through a better road. While talking about the development of infrastructure in the region, LG of J&K mentioned that the citizens in 2023 will be able to travel in the metro for the first time.

A committee has also been set up for examining the restoration of 4-G internet services in the remaining 18 districts of Jammu & Kashmir and there will good news in the coming days.

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