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BJP welcomes mega industrial package for J&K, thanks PM Modi & LG Sinha

J&K BJP President Ravinder Raina thanked Prime Minister Narendra Modi and Lt. Governor Manoj Sinha for mega industrial package for the overall development of J&K at gross root level.

Ravinder Raina was accompanied by former Dy. Chief Minister Kavinder Gupta and party programme Incharge Ajay Pargal, while he addressed a press conference at BJP headquarter, Trikuta Nagar, Jammu.

Ravinder Raina said that for the first time industrial package is announced with commitment up to 2037 to build confidence among the stake holders and to the new Industrial Unit holders in consistent policy scenarios.

Raina said that the new Scheme will go a long way in ushering an era of socio economic development of the region as it will generate more employment, both in rural & urban areas of whole J&K, which will boost socio-economic development of the region. He said that Employment generation is the underlying theme of this Scheme giving boost to holistic and balanced development of Jammu and Kashmir.

Ravinder Raina stressed that the core objective and vision of the Scheme is to lay special emphasis on sustainable development by creating a favourable ecosystem for new investment as also fostering the existing partners of growth. The Scheme will attract unprecedented investment and create direct and indirect employment.

Raina further stated that for the purpose of equitable and balanced development, the policy lays special focus on creation of zones wherein the industrially backward areas will be given higher incentives as higher subsidies to the units in backward region of J&K. The Prime Minister has total outlaid the scheme for Rs. 28,400 crores covering a period of about 17 years. The Scheme covers not only the Manufacturing Sector but aims to give a major fillip to Service Industry as well. The target is to generate employment of 4.5 Lakh in due course of time.

Raina highlighted that the scheme aspires to take industrial development to the block level in UT of J&K as well as substantial expansion of existing units. Besides, while encouraging new investment, the scheme also nurtures the existing industries in J&K.

The 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. The quantum of assistance is much higher in the proposed scheme as compared to the earlier IDS, as the GST linked incentive alone provides for a maximum of 3 times of investment made in plant & machinery. In addition to this Capital Incentive and Capital Interest Subvention is also provided.

Raina has also appreciated the efforts of Officers of Industries & Commerce Department who worked day & night for the formulation of this policy friendly to stake holders especially Sh. Manoja Kumar Dewedi, Comm./Secy. I&C and Ms. Anoo Malhotra, Director of Industries & Commerce, Jammu.

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