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J&K budget 2024-25; Investment proposals worth Rs 90182 crore received in J&K: GoI

J&K budget 2024-25; Investment proposals worth Rs 90182 crore received in J&K: GoI

‘Investment worth Rs 5319 crore grounded; 46 new industrial estates being developed’

Srinagar: The Government of India on Monday said that the J & K government has received investment proposals worth Rs 90182 crore and investment worth Rs 5319 crore has been grounded in the Union Territory since 2019-20.

These details were revealed by the GoI in the budget documents of J&K laid in the Parliament today.

According to the documents available with the news agency—Kashmir News Observer (KNO), investment proposals worth Rs 90182 crore were received which have potential to generate employment for 4, 01,965 youth.

“Since 2019-20, an investment worth Rs 5319 crore has been grounded,” the documents lay bare.

The Union Territory Government has launched the Jammu & Kashmir Industrial Policy 2021-30 with the aim to attract new investment, create employment opportunities for youth, develop backward regions and expand existing industrial units.

In a move to woo investors, it has also notified the Industrial Land Allotment Policy 2021-30, Private Industrial Estate Development Policy 2021-30, Wool Processing, Handicrafts and Handloom Policy 2020.

The GoI also revealed that apart from the existing 64 industrial estates, 46 estates are being developed to fulfill the goal of ‘Made in Jammu and Kashmir’.

“46 new Industrial Estates have been identified for development that will attract investment and create employment opportunities,” the budget documents state.

According to the documents, Jammu and Kashmir emerged as the top ranking Union Territory of India in the 2022 Export Ranking.

“The Union Territory improved its ranking from 35 in 2020 to 17 in 2022,” the budget documents revealed.

The Centre also revealed that Handloom and Handicraft exports have doubled from Rs 563 crore in 2021-22 to Rs 1116 crore in 2022-23—(KNO)

Srinagar News

Srinagar News is one of the oldest newspaper in kashmir it was founded by Late Mehraj-ud-Din Wani Sahab in 1975.

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