J&K Records Investment Of Rs 5656.78 Crore in Various Sectors After Article 370 Abrogation: Centre Informs Lok Sabha
Press Trust of Kashmir
JAMMU : The Central government has disclosed to the Lok Sabha that since the abrogation of Article 370 in 2019, an investment exceeding Rs 5600 crore has been infused into various sectors of Jammu and Kashmir.
Responding to a query, Minister of State in Ministry of Home Affairs, Nityanand Rai, highlighted the government’s commitment to fostering economic growth in the region. He mentioned the introduction of the New Central Sector Scheme for Industrial Development of Union Territory of Jammu & Kashmir in February 2021, aimed at attracting investors for capital investments.
Rai outlined a comprehensive array of policies and schemes implemented to incentivize investment in J&K, including the J&K Industrial Policy 2021-30, J&K Industrial Land Allotment Policy 2021-30, and J&K Private Industrial Estate Development Policy 2021-30, among others. These initiatives have paved the way for a steady influx of investments, with Rs 296.64 crore in 2019-20, Rs 412.74 crore in 2020-21, Rs 376.76 crore in 2021-22, Rs 2153.45 crore in 2022-23, and Rs 2417.19 crore in 2023-24.
Highlighting the sectors benefitting from these investments, Rai emphasized tourism, processing, and infrastructure development, including construction, roads, and power. He expressed optimism that these endeavors would catalyze the holistic development of the Union Territory of Jammu and Kashmir.
