J&K LG announces Rs. 28,400 crore new industrial development scheme

In order to encourage new investment and to take industrial development to the block level, the Jammu and Kashmir administration has announced a new industrial developmental scheme (IDS) with a total outlay of Rs 28,400 crore.

“In a major decision of far-reaching consequence, the Government of India has approved a new Industrial Developmental Scheme for Jammu and Kashmir,” Lieutenant Governor Manoj Sinha announced at a press conference.

“The scheme will go a long way in ushering an era of socio-economic development of the region and for catering to the aspirations of people,” he said. He further said that this scheme will be from the period of date of notification up to the year 2037 with a total outlay of Rs 28,400 crore.

He said that it is for the first time any industrial incentive scheme is taking development to the block level and added that it will promote far-flung areas of Jammu and Kashmir.