J&K Business Sector to Receive Relief Package Worth Rs 1,350 Cr

Sinha stated that a 50 percent rebate would be given to the people of J&K for electricity and water bills for a year

File photo of Manoj Sinha. 

(Photo: IANS)

In a bid to bolster the business sector of Jammu and Kashmir, Lieutenant Governor Manoj Sinha announced a major relief package of Rs 1,350 crores on Saturday, 19 September. This comes as a huge relief for businesses in J&K that have been grappling since the scrapping of Article 370 and then hit by the COVID-19 pandemic.

50 Percent Off on Water and Electricity Bills

One of the key announcements by Sinha was that a 50 percent concession would be given to the people of J&K for electricity and water bills for a year, reported NDTV.

“For one year, we will be giving a 50 per cent concession in water and electricity bills. We will be spending Rs 105 crore on this. This will benefit farmers, normal people, businessman and others.”

Lieutenant Governor Manoj Sinha quoted by <i><a href="https://www.ndtv.com/india-news/jammu-and-kashmir-manoj-sinha-announces-50-discount-in-water-power-bills-as-j-k-rs-1-350-crore-economic-relief-package-2297908">NDTV </a></i>

Sinha also reportedly added that the economic package of Rs 1,350 crore is additional to the benefits of the Atmanirbhar Abhiyan announce by PM Modi. Some of the other highlights of the relief package reportedly include:

• Five per cent interest subvention to every borrower belonging to the business community, without any conditions, for six months in the current financial year
• Under the credit card scheme, extending the maximum limit of Rs 1 lakh to Rs 2 lakh for people working in handloom and handicraft industry
• People working in the handloom and handicraft industry will also be given 7 percent interest subvention
• From October 1, the J&K bank will start a special desk for youth and women enterprises

Sinha reportedly stated that a new industrial policy will be announced soon to revive the industrial sector.