Shah, Goyal, Sinha, others to attend
*Nearly 600 proposals pending
Sanjeev Pargal
JAMMU, Nov 22: The Union Home Ministry will take a call on raising the amount for industrial package in Jammu and Kashmir which was sanctioned in 2019 worth Rs 28,400 crore, in first week of December in the Apex Committee level meeting amid reports that there are bright prospects of increase which will facilitate more industrial investment.
Official sources told the Excelsior that first round of the meeting will be chaired by Union Home Secretary Govind Mohan with top concerned officials of the Jammu and Kashmir administration in which all pros and cons of the industrial package will figure. This will be followed by the Apex Committee meeting headed by Union Home Minister Amit Shah and comprising Industry and Commerce Minister Piyush Goyal, Lieutenant Governor Manoj Sinha and senior officers of MHA, Commerce Ministry and the UT administration.
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“If the proposal to increase the industrial package is approved by the Apex Committee, it will go to the Union Cabinet for final approval,” they said, adding there are indications that the package may go up to facilitate investment by more industrial units in Jammu and Kashmir whose applications are pending before the Department.
The Lieutenant Governor’s administration had last year proposed raising the industrial package amount from Rs 28,400 crore to Rs 75,000 crore to clear pending investments after Rs 28,400 crore worth package was exhausted as the package received tremendous response not only within the country but abroad as well.
“Nearly 600 applications from various industrial units from different parts of the country complete in all respects have been pending for investments. The proposals can be cleared only if the package is enhanced. Besides, around 600 pending applications, 571 proposals from other units were rejected because of incomplete formalities,” the sources said.
Sources said if the package is even raised by around Rs 20,000 crore, many pending proposals are expected to be cleared which will be another big boost for industrial investment in Jammu and Kashmir. Already, a large number of industrial units have started functioning on ground under the industrial package scheme.
They added that the proposal for increase in industrial package is being vigorously pursued by the LG’s administration with both Union Home and Commerce Ministries.
The New Central Sector Scheme (NCSS) which started on April 1, 2021 for Jammu and Kashmir amounting to Rs 28,400 crore will continue till 2037 but entire amount meant for incentives was exhausted with registration of nearly 1000 units.
According to the officials, a total of 971 industrial investment proposals have been cleared with financial outlay of Rs 28,400 crore. However, these incentives will be given to the industries till 2037 subject to certain conditions which are part of the New Central Sector Scheme.
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