J&K to get Rs35,000-cr investments by Dec

Jammu: J&K Lieutenant Governor Manoj Sinha on Tuesday said investments in the Union Territory are expected to reach Rs35,000 crore by December 2021 and proposals for Rs 25,000-crore funding have already been received.

Sinha highlighted the key reforms and steps taken for managing the UT's economy during Covid-19, its growth potential and focus areas, besides putting across issues that require consideration by the Union government during interaction with Finance Minister Nirmala Sitharaman, in a meeting chaired by her. Highlighting the steps taken for growth in the economy, the lieutenant governor said "the investment in J&K is expected to reach Rs 35,000 crore by December 2021 and proposals for Rs 25,000 crore have already been received". He said that land has been approved for proposals worth Rs 1,700 crore.

"Out of 6,000 acres of land earmarked for the development of industrial estates, 3,000 acres have already been identified." On the steps taken for managing the economy, the lieutenant governor said a holistic package of Rs 1,353 crore was announced during last year for inclusive growth by which 3.44 lakh account of borrowers involving Rs 750 crore were benefitted by an interest subvention of 5 per cent under business revival.