NEW DELHI: Union Home Minister Amit Shah on Tuesday launched the web portal for registering industrial development units in Jammu and Kashmir.
Union Trade and Industry Minister Piyush Goyal and Union Minister Dr Jitendra Singh were also present at the inauguration of the web portal for unit registration under the “New Central Sector Program 2021” for Jammu and Kashmir via videoconference.
Earlier on August 4, Minister of State at the Ministry of Trade and Industry Som Parkash, in a written response to Lok Sabha, informed that the Department for the Promotion of Industry and Domestic Trade notified the “new central sector program for the industrial development of Jammu and Kashmir” with a down payment of Rs 28,400 crore on February 19, 2021 and is in effect from April 1, 2021 to March 31, 2037.
The scheme is applicable to any qualifying industrial (manufacturing) entity or qualifying business in the service sector other than those managed by the government, which is a commercial enterprise registered under the goods and services tax, he said. .
The minister said that the program offers four incentives, namely the capital investment incentive, the capital interest subsidy, the goods and services tax (GSTLI) incentive and the interest subsidy. working capital.
“The program will help create more employment opportunities and promote tourism in the region. Direct job creation is estimated at nearly 78,000 people, however, the program has the potential to trigger indirectly much higher paying jobs and also has the potential to further promote tourism activities in Jammu and Kashmir, ”Parkash said.