J&K gets Rs 1350 crore new economic package to revive local economy

Lieutenant Governor Manoj Sinha today announced an economic package of Rs 1350 crore for Jammu and Kashmir in a bid to boost developmental work in the newly formed territory.

A new policy will also be announced soon to revive the industrial sector, which has suffered huge losses after J&K's special status under Article 370 was scrapped last year on August 5, the L-G told reporters today. 

Addressing a press conference at Raj Bhawan, Jammu and Kashmir LG Manoj Sinha said, ''I am glad to announce a Rs 1,350 crores economic package for the people in the business community facing economic difficulties. This is additional to the benefits of Atma Nirbhar Bharat & other measures taken by us to comfort the business community.''

 ''We have decided to give 5% interest subvention to every borrower from the business community, without any conditions for six months in the current financial year. This will be a huge relief and help in generating employment here”, added Sinha