J&K LG announces Rs 1,350 cr economic package: 50% discount in electricity, water bills

Jammu and Kashmir L-G Manoj Sinha. (ANI)

Lieutenant Governor of Jammu and Kashmir Manoj Sinha Saturday introduced an financial bundle value Rs 1,350 crore for the newly shaped Union Territory in a bid to spice up the trade sector and different sectors.

Pronouncing the bundle, Sinha stated, “Now we have licensed an financial bundle of Rs 1,350 crore for Jammu and Kashmir. I’m happy to announce this for the folk within the trade neighborhood going through financial difficulties. That is further to some great benefits of Atma Nirbhar Bharat and different measures taken through us to convenience the trade neighborhood.”

The Lieutenant Governor additionally stated an unheard of hobby subvention of five in keeping with cent can be supplied to all debtors, with none stipulations. “Now we have made up our minds to offer five in keeping with cent hobby subvention to each and every borrower from the trade neighborhood, with none stipulations for 6 months within the present monetary yr. This can be an enormous reduction and assist in producing employment right here.”

Sinha additionally introduced a 50 in keeping with cent bargain on water and tool expenses. “50 in keeping with cent bargain to be given for a yr in electrical energy and water expenses. Additionally, stamp accountability has been exempted as much as March 2021 in case of all debtors. Along with this, we also are putting in place a customized Well being-Tourism scheme through J&Ok financial institution for monetary help to other people within the tourism sector with just right pricing and reimbursement choices.”

“Underneath the bank card scheme, we’ve made up our minds to increase the utmost restrict of Rs 1 lakh to Rs 2 lakh for other people running within the handloom and handicraft trade. They’ll even be given a 7 in keeping with cent hobby subvention. From October 1, J&Ok financial institution will get started a different table for formative years and girls enterprises,” Sinha added.

Reacting to the announcement, Jammu & Kashmir Apni Birthday celebration president Altaf Bukhari stated the bundle is far too not up to the losses we’ve suffered. “J&Ok wishes a larger middle if we need to revive its financial system. Now we have suffered a lack of no longer not up to Rs 40,000 crore, and a Rs 1,350 crore financial bundle is a drop within the ocean however one thing is healthier than not anything,” ANI quoted Bukhari as pronouncing.

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