J&K Expecting Investment Proposals Worth Rs 50 000 Cr: LG Manoj Sinha

Srinagar: Jammu and Kashmir is expecting investment proposals worth Rs 50,000 core which have the capacity to provide employment opportunities to 10 lakh persons, Lieutenant Governor Manoj Sinha said here on Sunday.

“So far, proposals worth Rs 23,500 crores have been received. Investment proposals of Rs 35,000 crore by December 2021 and Rs 50,000 crore by March 2022 are expected to follow, which shall provide employment opportunities to at least 10 lakh young boys and girls,” Sinha said in his Independence Day speech at Sher-e-Kashmir Cricket Stadium here.

Quoting from the Bhagavad Gita, Sinha said the administration is following the spirit of “Yato Dharmah Tato Jayah (where there is dharma, there is good governance, there is order and victory)”.

“With this spirit, we have shifted from the policy of announcements to the policy of implementation on the ground. Before 2019, Jammu and Kashmir was deprived of the benefits of industrial revolution. But now we are determined to ensure Ease of Doing Business with Ease of Living,” Sinha said.

“The recently announced New Industrial Scheme of Rs 28,400 crore by the government is already attracting huge investments,” he added.

Sinha said with the provision of single window clearance, for the first time in the history of Jammu and Kashmir, industries shall be established at the block level, transforming the backward areas.

The administration has prepared a policy framework for private industrial estate development, which will lead to rapid industrialisation in the private sector, he said.

“Night flight operations have started from Jammu and Srinagar airports. With the start of Silk Factory Rajbagh and Bemina Woolen Mill, the process has been initiated to provide a global market to the handicraft and cottage industry. Our new initiatives are aimed at transforming this traditional sector in order to benefit the artisans and the farmers,” he added.

Sinha said Jammu and Srinagar cities are being transformed into smart cities.

“Work has already started on beautification of Jhelum and Tawi river front. Integrated action plan for cleaning of Dal, Jhelum and Wular is being finalised. The much awaited Light Rail Metro work will commence this year in both Jammu and Srinagar at a cost of Rs 10,000 crore,” the LG said. (PTI)