Centre grants approval for novel industrial scheme estimated at Rs 28,400 cr for J-K

The Central government has granted the approval of a new Industrial developmental scheme with an overall outlay of Rs 28,400 crores. The decision was taken and implemented with the intent of promoting new investments in Jammu and Kashmir.

The novel scheme, which has been approved with an overall outlay of Rs 28,400 crore till year 2037 will carve a way for socio-economic development of the region and also cater towards meeting the expectations of the people, as per the official statement released. In a press conference on Thursday, Lieutant Governor Manoj Sinha revealed the details about the scheme which will enhance the economic curve of the region and also open up the opportunities and prospects of employment for the residents of Jammu and Kashmir.

The official release stated that the main intent of implementing the scheme is to develop job prospects exceeding the government jobs in the manufacturing and service sectors which straightaway heads to the socio-economic development of the area.

The Government further thanked Prime Minister Narendra Modi for his approval of the New Central Sector Scheme for Industrial Development of the Union Territory.

Sinha said, “The new scheme will give a boost to domestic manufacturing in the region and help Jammu and Kashmir in becoming Atmanirbhar. The scheme will encourage new investment, substantial expansion and also nurture the exiting industries in Jammu and Kashmir.”

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