J&K Announced ₹ 1,350 Crore Economic Relief Amid Covid-19

J&K Announced ₹ 1,350 Crore Economic Relief Amid Covid-19

A new industrial policy will be announced soon to revive the industrial sector, which has suffered huge losses since August 5 last year when J&K’s special status under Article 370 was scrapped, the L-G told reporters today.

An economic relief package of ₹ 1,350 crore was announced this afternoon for Jammu and Kashmir’s ailing business sector – hit hard by the prolonged coronavirus lockdown – by Lieutenant Governor Manoj Sinha, who took oath last month as the union territory’s L-G. A discount of 50 per cent in water and electricity bills for a year “on fixed demand charges for industrial and commercial consumers” is one of the key highlights of today’s announcements, which cover small and medium enterprises, tourism industry, among other sectors.

“We have approved an economic package of ₹ 1,350 crores for Jammu and Kashmir’s struggling business community. This is additional to the benefits of the Atmanirbhar Abhiyan, earlier announced by Prime Minister Narendra Modi,” Mr Sinha said as he further stressed that “stamp duty is exempted till March 2021 for all borrowers”.

A new industrial policy will be announced soon to revive the industrial sector, which has suffered huge losses after J&K’s special status under Article 370 was scrapped last year on August 5, the L-G told reporters today. 

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