Srinagar, Aug 06: The Centre on Tuesday that it has notified the New Central Sector Scheme (NCSS) for industrial development in Jammu and Kashmir with a financial outlay of Rs 28,400 crore for encouraging new investments.
In a written reply to a question in the Lok Sabha, Minister of State for Home Affairs Nityanand Rai said that the incentives being provided under NCSS include capital investment incentive, capital interest subvention, goods & services tax linked incentive, and working capital interest subvention.
He said that the Jammu and Kashmir administration has taken various policy initiatives to boost the industry sector and make it an investor-friendly destination
The minister said that the initiatives include J&K Industrial Policy, 2021-30, J&K Industrial Land Allotment Policy, 2021-30, J&K Private Industrial Estate Development Policy, 2021-30, Policy for Promotion of Foreign Investment in Industrial Sector in J&K, 2022, J&K Single Window Rules, 2021, Turnover Incentive Scheme, 2021, J&K Wool Processing, Handloom and Handicraft Policy, 2020, Financial Support Scheme for Cooperatives/Self Help Groups, 2020, Credit Card Scheme for Artisans and Weavers, 2020, Kharkhandar Scheme for Development of Craft Sector in J&K, Export Subsidy Scheme, 2021, Revised Education Scheme 2022 for Artisans/Weavers of Handicrafts and Handloom Department, and J&K Start-Up Policy 2024-27.
Earlier. Jammu and Kashmir Industries Department received over 5,000 online applications for land allotment since November 2022, pledging an investment of nearly Rs. 60,000 crore.
The applicants have proposed to set up factories and other industrial units with an employment potential of over 2 lakh jobs.
Department of Industries and Commerce (I&C) processes all the applications under the new allotment policy, which includes a single-window system and gives fair weight to projected investment per Kanal, proposed direct employment per Kanal, industrial type, environmental impact assessment, and so on.
To ensure transparency, the department also publishes a list of allottees on its official website, and objections are sought before formal allocation, per officials.
Notably, following the repeal of the special status of the erstwhile state on August 5, 2019, and subsequent amendments to the land laws, the Jammu and Kashmir administration set a target of 4.8 lakh kanals of land to encourage investment in the Union Territory. It comprised expanding existing industrial estates and establishing new estates in Jammu, Srinagar, and other districts.
Until 2020, the government gave the I&C Department 2.4 lakh kanals of land in the UT, including 1.6 lakh in the Jammu division and 80,000 in Kashmir.
