Says Govt expects Investments To Further Increase In Next Five Years

New Delhi: A record investment of Rs 1,547 crore has been received by Jammu and Kashmir in the current fiscal till January, Union Minister of State for Home Nityanand Rai said in the Lok Sabha on Tuesday.
Rai said the government expects investments to further increase in the next five years in various important sectors like manufacturing, services, healthcare and pharmaceuticals, agro-based industry, and tourism, including film and medical.
During 2022-23 till January, a record investment of Rs 1,547.87 crore has been received by the Union Territory and this investment during the current financial year is the highest ever compared to any of the previous financial years, he said replying to a written question.
The minister said Jammu and Kashmir had received investment of Rs 376.76 crore in 2021-22, Rs 412.74 crore in 2020-21, Rs 296.64 crore in 2019-20, Rs 590.97 crore in 2018-19 and Rs 840.55 crore in 2017-18.
He said the government of Jammu and Kashmir has already received investment proposals worth Rs 64,058 crore.
The central government has notified the new central sector scheme for industrial development of Union Territory of Jammu and Kashmir on February 19, 2021, and various policy initiatives have been taken by the authorities, Rai said.
“The Government of India has notified the New Central Sector Scheme for Industrial Development of Union Territory of Jammu & Kashmir on 19.02.2021. Various policy initiatives have been taken by the Government of Jammu and Kashmir and the following policies are notified for making the UT an investor friendly destination: i. J&K Industrial Policy 2021-30; ii. J&K Industrial Land Allotment Policy 2021-30; iii. J&K Private Industrial Estate Development Policy 2021-30; iv. J&K Wool Processing, Handicrafts and Handloom Policy 2020,” he said, adding, “ In addition, various other measures have been taken to improve business environment through ease of doing business, economic package, operation of night flights from Jammu and Srinagar, etc.”

KR Desk