While addressing a press conference at Raj Bhawan, LG Sinha said: “This was just the beginning and there was much more in the offing. She also commended the Committee for submitting the report within a specified time frame.
“I am pleased to announce an economic package of Rs 1,350 crore for people in the business community facing financial difficulties. This is in addition to the benefits of Atma Nirbhar Bharat and other measures we take to comfort the business community,” he said.
“We have decided to award a 5 percent interest subsidy to all borrowers in the business community, without any conditions, for six months in this financial year. This will be a great relief and will help generate employment here,” he added.
“I also want to emphasize that this is the first time here in so many years that the Committee has presented the report within the established deadline, which was 12 days,” Sinha said.
In giving more information about the package, the deputy governor of Jammu and Kashmir said that it will also cover those sectors that have suffered losses in the newly created UT, in addition to the business sector in crisis.
Notably, this package was announced just days after the Kashmir Trade Alliance (KTA), a group of various trade bodies, had previously stated that due to the closure of the coronavirus pandemic, businessmen have incurred huge losses.
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