JAMMU, Feb 7: Since Article 370 was repealed in 2019, the Central government has invested over Rs 5600 crore in various sectors of Jammu and Kashmir, the Lok Sabha was informed on Wednesday by the government. In response to a question, Nityanand Rai, Minister of State in the Ministry of Home Affairs, stated that in order to entice investors to make capital investments, the government notified the New Central Sector Scheme for Industrial Development of Union Territory of Jammu & Kashmir on February 19, 2021.The J&K Industrial Policy 2021-30, J&K Industrial Land Allotment Policy, 2021-30, J&K Private Industrial Estate Development Policy, 2021-30, Policy for Promotion of Foreign Investment in Industrial Sector in J&K, 2022, J&K Single Window Rules, 2021, Turnover Incentive Scheme, 2021, J&K Wool Processing, Handicrafts and Handloom Policy, 2020, Financial Support Scheme for Cooperatives/Self Help Groups, 2020, Credit Card Scheme for Artisans and Weavers, 2020, Kharkhandar Scheme for Development of Craft Sector in J&K, 2021, Revised Education Scheme 2022 for Artisans/Weavers of Handicrafts and Handloom Department, and Export Subsidy Scheme, 2021 have been added to this.Investments of Rs 296.64 in 2019–20, Rs 412.74 in 2020–21, Rs 376.76 in 2021–22, Rs 2153.45 in 2022–23, and Rs 2417.19 in 2023–24 have been made possible thanks to the impact of the actions. Rai added that investments in a variety of industries, including tourism, processing, etc., and infrastructure, including building, roads, electricity, etc., will accelerate the growth of Jammu and Kashmir’s Union Territory.
