JK received investment of Rs 1,547.87 crore during current fiscal year: GoI

A panoramic view of Srinagar city.

Srinagar: The government of India on Tuesday said that Jammu and Kashmir received a record investment of Rs 1547.87 crore during the current fiscal year, stating that this is the highest ever compared to any previous financial years.

Minister of State for Home Affairs India Nityanand Rai, informed the Lok Sabha that as per the information provided by tthe administration of Jammu and Kashmir, the investments during the last five years and the current year include 840.55 Cr in 2017-18, 590.97 Cr 2018-19, 296.64 Cr 2019-20, 412.74 Cr 2020 to 21, 376.76 2021-22 and 1547.87 Cr from 2022 up to Jan, 2023.

The minister said during the year 2022-23, till January 2023, a record investment of Rs 1547.87 crore has been received by the Union Territory.

“The investment during the current financial year is the highest ever compared to any of the previous financial years,” he said.

He also said that the government expects investments to further increase in the next five years in various important sectors like manufacturing, service sector, healthcare and pharmaceuticals, agro based industry, tourism (including film and medical tourism) etc.

“In this connection, the government of Jammu and Kashmir has already received investment proposals worth Rs. 64,058 crore. The Centre has notified the new Central Sector Scheme for Industrial Development of Union Territory of Jammu and Kashmir on 19,02,2021,” he said.

He added various policy initiatives have been taken by the administration of Jammu and Kashmir, which include JK Industrial Policy 2021-30, JK Industrial Land Allotment Policy 2021-30, JK Private Industrial Estate Development Policy 2021-30, JK Wool Processing, Handicrafts and Handloom Policy 2020.

“In addition, various other measures have been taken to improve the business environment through ease of doing business, economic package, operation of night flights from Jammu and Srinagar, etc,” he said. (KNO)

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