September 19, 2020 2:28:38 pm
Jammu and Kashmir LG Manoj Sinha. (AND ME)
Jammu and Kashmir Deputy Governor Manoj Sinha announced on Saturday an economic package worth Rs 1,350 crore for the newly formed Union Territory in a bid to boost business and other sectors.
Announcing the package, Sinha said: “We have approved a Rs 1,350 million economic package for Jammu and Kashmir. I am pleased to announce this to people in the business community who are struggling financially. This is in addition to the benefits of Atma Nirbhar Bharat and other measures we take to comfort the business community. “
The lieutenant governor also said that an unprecedented 5 percent interest subsidy will be provided to all borrowers, without any strings attached. “We have decided to award a 5% interest subsidy to all borrowers in the business community, without any conditions, for six months in the current fiscal year. This will be a great relief and will help generate employment here. “
Sinha also announced a 50 percent discount on water and electricity bills. “Discount of 50 percent for one year on electricity and water bills. Also, stamp duty has been exempt until March 2021 for all borrowers. In addition to this, we are also establishing a personalized health tourism scheme by J&K Bank for financial assistance to people in the tourism sector with good prices and payment options ”.
“Under the credit card scheme, we have decided to extend the maximum limit from Rs 1 lakh to Rs 2 lakh for people working in the handloom and handicraft industry. They will also be given a 7% interest subsidy. Starting October 1, J&K bank will start a special desk for youth and women’s businesses, ”added Sinha.
Reacting to the announcement, Jammu and Kashmir Apni Party Chairman Altaf Bukhari said that the package is much less than the losses we have suffered. “J&K needs a bigger heart if we want to jumpstart its economy. We have suffered a loss of no less than 40 billion rupees and an economic package of 1.35 billion rupees is a drop in the bucket, but something is better than nothing, ”Bukhari said according to ANI.
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