x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   Security heightened after explosives found near Ambani’s house | PM inaugurates Khelo India Winter Games, says will J&K winter sports hub | No COVID-19 vaccination exercise to be held on these dates: Union Health Ministry | Bharat Bandh today: All commercial establishments to remain closed, over 8 crore traders to protest against GST, fuel price hike | Election Commission to announce assembly poll dates for 4 states, 1 UT today, press conference at 4.30 PM | Indo-Pak new bonhomie: A setback for Gupkar Alliance | Hosting of obsolete content on official websites | Undeterred by 'blackmail tactics' of NC-PDP Delimitation Commission to go-ahead | 16 yrs on, influential AEE clings on to his chair | Unscrupulous elements openly demanding bribes to provide question papers | Purkhoo Camp residents suffer, courtesy PHE | Funds exhausted Vijaypur-Ramgarh road work hangs in balance | ACB raids ARTO office Anantnag, driving license trial venue | More than 130 SIs of Jammu & Kashmir Police (Armed) seek justified promotion policy | Nirvana Divas of Satguru Kabir Sahib commemorated at Sahib Bandgi Sant Ashram | Woman knocked to death in Rajouri | District Police Poonch organizes 'Mehfil-e-Mushaira' | CEO Jammu inaugurates Kindergarten at GMS Kote, distributes books | Huge response of youth in Army Recruitment Rally at Sunjuwan | Govt's decision to link assembly polls with delimitation process in J-K is bizarre: Tarigami | Government Polytechnic Jammu inks MOU with ICT Academy Chenani | CUJ organizes national seminar on teacher education | 45th Guru Gyagi Nirvan Divas observed | Baijnath Kaushik of SMVDU delivers talk on digital learning at Lingayas Vidyapeeth | Medical camp organized | GDC Sumbal organizes symposium | Science Club GDC Ramnagar celebrates National Science Day | Implications and imperatives of removal of Article 35A | Initial response of democracy in Pakistan | How to score 700 in NEET UG 2021 and preparation strategy for NEET UG 2021 | Wrapped with a reason- A style revolution and freedom to decide | Step Towards Streamlining Education | Munish Gupta asks government to solve problems of people of Arjun Vihar Kunjwani Lane 4 | Lt Governor takes cognizance of applicants’ grievances during Live Public Grievance Hearing | Principal Secy to LG reviews Srinagar Smart City Projects | Advisor Baseer Khan inaugurates Sonamarg winter festival | CBJ charge sheets accused in Rs 10 lakh fraud | HC dismisses petition challenging reservation of offices of chairpersons | Lok Adalat held at Court Complex Janipur | Mayor, team visits RRL complex | Div Com inspects pace of work on NH-44, arrangements for Shri Amarnath Ji Yatra-2021 | Shah Faesal says 'credit a must where credit is due' amid row over Narendra Modi Stadium | ‘Do not over burden common man, subsidize 19% fare hike’ | DB directives in PIL regarding non-implementation of provisions of SWM rules | Waheed Parra case: Police to take custody of those arrested by NIA in Davinder Singh case | DDC Doda constitutes Childline Advisory Board | Ramnagar constituency facing medical emergency: Harsh | DC Kathua reviews implementation of FPO scheme at DLMC meeting | 280 passengers airlifted between UT Ladakh and J&K | Director FCS&CA reviews functioning of department in District Samba | Nasha Mukt Bharat Abhiyan: Special Camp organized to sensitize drivers | MVD conducts driving trial; fitness test of vehicles at Mahore | Despite police curbs, drug addiction a growing menace in Kashmir | JK witnesses spike in COVID-19 cases following 108 fresh cases, positive cases are 126201 | Power shut down | Unauthorised absent: salary of two Animal Husbandry officials withheld | Mehbooba welcomes DGMO level talks between India-Pak | Dr Farooq Abdullah welcomes Indo-Pak agreement on ceasefire alongside LoC, IB | Kalakote EO’s letter to police for registering case goes unnoticed | J&K Students Association urge LG to re-advertise, reframe eligibility for horti students | J&K Biodiversity Council holds maiden meeting | Delimitation be based on 2021 census, with no capping of assembly seats: SSP | IIT Jammu, J&K education dept sign MoU to improve quality of education | 2 Govt buildings vacated in Rajouri | Arrangements for JKSSB Class IV Exam finalized in Rajouri | Dheeraj Gupta reviews implementation of transfer of funds, functions, functionaries to Municipal Bodies of JK | Huge response of youth in Army Recruitment Rally at Sunjuwan | LG should consider our demands on priority: DTEA | Shiv Sena holds protest against Rahul Gandhi’s statement | Advisor Bhatnagar conducts surprise inspection of GHSS Chandi Lora, CHC Gulmarg | CII J&K holds annual session | JKOPA celebrates Printers’ Day with children of Bal Ashram | Shiv Sena expel members for anti party activities | Dulhasti Power Station conducts quarterly meeting of OLIC | Brahman Sabha for Hindi as J&K’s official language, urges LG to issue order | Vishwakarma Prakat Diwas celebrated | Deputy Mayor inaugurates Bikaner Mishthan Bhandar | Back Issues  
 
news details
Rs 28,400 cr New Industrial Development Scheme to employ 4.5 lakh: LG Sinha
1/7/2021 11:52:14 PM

Early Times Report

Jammu, Jan 7: In a major decision of far reaching consequence, the Union Government has approved the new Industrial Developmental Scheme for Jammu and Kashmir.
The scheme will go a long way in ushering an era of socio-economic development of the region as also catering to the aspirations of people.
Addressing a press conference here on Thursday morning, Jammu and Kashmir Lieutenant Governor, Manoj Sinha visualised the scheme as a major push to the economy of the region and providing huge opportunities of employment to the people of J&K.
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 scheme is being implemented with the vision that industry and service led development of J&K 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 a major support to local industry, besides creation of new business opportunities, the Lt Governor observed.
The scheme is approved with a total outlay of Rs 28,400 crore up to the year 2037.
He said that the incentives would be available under the scheme including capital Investment Incentive at the rate of 30 per cent in Zone A and 50 per cent in Zone B on investment made in Plant & Machinery (in manufacturing) or construction of building and other durable physical assets (in service sector) will be made available. Units with an investment up to Rs 50 crore will be eligible to avail this incentive. Maximum limit of incentive is Rs 5 crore and Rs 7.5 crore in Zone A and Zone B, respectively.
"At the annual rate of 6 per cent for maximum 7 years on loan amount up to Rs 500 crore for investment in plant and machinery (in manufacturing) or construction of building and all other durable physical assets (in service sector)," he said adding that financial incentive based on Gross GST. This will incentivise output up to 300 percent of the eligible value of actual investment made in plant and machinery (in manufacturing) or construction in building and all other durable physical assets (in service sector) for 10 years.
However, he said that the amount of incentive in a financial year will not exceed one-tenth of the total eligible amount of incentive.
He said that all existing units at the annual rate of 5 percent for maximum 5 years. Maximum limit of incentive is Rs 1 crore.
Briefing on key features of the scheme, the LG said, "scheme is made attractive for both smaller and larger units. Smaller units with an investment in plant and machinery upto Rs. 50 crore will get a capital incentive up to Rs. 7.5 crore and get capital interest subvention at the rate of 6% for maximum 7 years."
He added that the scheme aims to take industrial development to the block level in UT of J&K, which is the first time in any Industrial Incentive Scheme of the Government of India and attempts for a more sustained and balanced industrial growth in the entire UT.
Remote areas of J&K will see a major impetus through the scheme, he said.
The LG said that scheme has been simplified on the lines of ease of doing business by bringing one major incentive- GST Linked Incentive- that will ensure less compliance burden without compromising on transparency.
"Scheme envisages a greater role of the UT of J&K in registration and implementation of the scheme while having proper checks and balances by having an independent audit agency before the claims are approved," he asserted.
Mr Sinha further said that earlier schemes though offered a plethora of incentives and added, "however, the overall financial outflow was much lesser than the new scheme. Whereas, the earlier schemes have provided about Rs 1120 crores in all these years, this scheme shall provide an outlay of Rs 28,400 crores."
He said that the major Impact and employment generation potential included scheme is to bring about radical transformation in the existing industrial ecosystem of J&K with emphasis on job creation, skill development and sustainable development by attracting new investment and nurturing the existing ones, thereby enabling J&K to compete nationally with other leading industrially developed States/UTs of the country.
"It is anticipated that the proposed scheme is likely to attract unprecedented investment and give direct and indirect employment to about 4.5 lakh persons. Additionally, because of the working capital interest subvention, the scheme is likely to give indirect support to about 35,000 persons," he said.
The Lt Governor expressed gratitude towards the Prime Minister Narendra Modi for approving the New Central Sector Scheme for Industrial Development of Jammu and Kashmir.
"New Industrial Development Scheme for J&K will give a boost to domestic manufacturing in the region & help J&K in becoming AatmaNirbhar," he added and said that the Scheme will encourage new investment, substantial expansion and also nurture the existing industries in J&K.
The Lt Governor, while giving out the details of the scheme, emphasized that it will be ensured that the implementation of the new scheme shall be done in a manner which is friendly and hassle free to the investors. It will be ensured that entrepreneurs from within J&K and outside find a smooth and progressive ecosystem for their business plans.
Further, the Lt Governor emphasised that 'With our transparent policies, investments in developing infrastructure, market oriented policy environment and skilled human capital, we aspire to become a growth pillar for India in the current decade'.
He also said that Government and Industry will work closely to achieve the vision of the holistic and balanced development of Jammu and Kashmir.
The Lt Governor also appreciated the Industry and Commerce department for working hard to materialise this scheme in continuous consultation with the Government of India.
He also thanked the business associations and all who contributed through their valuable suggestions.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU