Investments reach Rs 14,000 cr, to touch Rs 35,000 cr by year-end: LG

‘Record tourist arrival, tax collections up’

Excelsior Correspondent

JAMMU, Nov 23: Lieutenant Governor Manoj Sinha said today that investments in industry will touch Rs 35,000 crore by the year end in Jammu and Kashmir while number of the tourists visiting the Union Territory this year has reached 12.83 lakh tourists, a figure which was not even registered during last 10-15 years.
Tax collections in Jammu and Kashmir are also up–be it the Excise or Goods and Services Tax (GST), he said.
Sinha was speaking at a press conference along with Finance Minister Nirmala Sitharaman at the Raj Bhawan this afternoon.
“We are expecting investment in the industrial sector in the Union Territory of Jammu and Kashmir to the tune of Rs 35,000 crore by the year-end. We already have received investments worth Rs 14,000 crore,” Sinha said.
It may be mentioned here that there has been massive response to the Industrial Policy of Jammu and Kashmir which was approved by the Central Government early this year. The Government is receiving investment proposals from the industry in different sectors in both divisions of Jammu and Kashmir.
The Lieutenant Governor stated that tourism has also been picking up post COVID pandemic restrictions in Jammu and Kashmir. Pilgrimage to holy cave shrine of Mata Vaishno Devi Ji is also up.
“As many as 12.83 lakh tourists have visited Jammu and Kashmir this year so far. This number was not achieved even during last 10 to 15 years,” Sinha said.
He added that figures of pilgrims visiting the holy cave shrine of Mata Vaishno Devi Ji are also encouraging.
Improvement in economy can also be well gauged from the fact that tax collections in Jammu and Kashmir are also going up.
“We have registered an increase of 53 percent in Excise taxes. The GST has also gone up. Things are clearly improving now,” the Lieutenant Governor said.
He said post abrogation of Article 370, which granted special status to erstwhile State of Jammu and Kashmir, the benefits of various Government schemes are now reaching last man in the last queue which is evident from the fact that Jammu and Kashmir has become the first Union Territory to bring its entire population under Ayushman Bharat Scheme.
“A new dawn of development has been set in Jammu and Kashmir under the leadership of Prime Minister Narendra Modi,” he said.
Sinha said that through different credit facilities financed by the banks in Jammu and Kashmir, the value addition can be brought about in different sectors like Food Processing, Handicrafts, Tourism and other things which are manufactured in the Union Territory.
He further said that the MSMEs, farmers and young entrepreneurs in Jammu and Kashmir can now fully reap the benefits of more diversified financial offers.
Sinha said the Government is following the principles of good governance as suggested by the Prime Minister including providing corruption-free regime, transparent administration, social justice and Jan Bhagidari.