Quick Summary
For the first time, any industrial incentive scheme is taking the industrial development to the block level Scheme is upto the year 2037 at a total cost of Rs. 28,400 crore Scheme while encouraging new investment, also nurtures the existing industries in JK by providing them working capital support at the rate of 5% for 5 years Main purpose of the scheme is to generate employment which directly leads to the socio economic development of the region Aims at development of Manufacturing
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FAQ :
The scheme has a total outlay of £28,400 crore and will run until the year 2037.
The main purpose is to generate employment, leading to the socio-economic development of the region, by attracting new investment and nurturing existing industries.
Incentives include Capital Investment Incentive, Capital Interest Subvention, GST Linked Incentive, and Working Capital Interest Incentive for existing units.
Existing industries will receive working capital support at an annual rate of 5% for up to 5 years, with a maximum limit of £1 crore.
Yes, for the first time, an industrial incentive scheme is taking development down to the block level, aiming for more sustained and balanced industrial growth across the entire UT.
The scheme is anticipated to attract unprecedented investment and provide direct and indirect employment to approximately 4.5 lakh persons, with additional indirect support to about 35,000 persons through working capital subvention.
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