₹1,350-CR AID TO REVIVE BUSINESS SECTOR IN J&K; POWER, WATER BILLS SUBSIDISED

₹1,400 CR ALREADY PROVIDED UNDER ATMANIRBHAR BHARAT ABHIYAN OF THE CENTRE , SAID LIEUTENANT GOVERNOR SINHA

SRINAGAR: Jammu and Kashmir lieutenant governor Manoj Sinha on Saturday announced a ₹1,350-crore economic package for the revival of the business sector in the Union territory, along with a 50% rebate on electricity and water bills for a oneyear period.

Addressing a press conference, Sinha said, “I am glad to announce a ₹1,350 crores economic package for the people in the business community facing economic difficulties. This is additional to the benefits of Aatmanirbhar Bharat and other measures taken to comfort the business community.”

Under the Aatmanirbhar Bharat Abhiyan (self-reliance campaign) of the Central government, the L-G said, ₹1,400 crore have already been provided.

“For one year, we will be giving a 50% concession in water and electricity bills. We will be spending ₹105 crore on this. This will benefit farmers, businessmen and others,” the L-G said. “This is a beginning and more things are in the offing.” He added that the government is working on a structured mechanism and package for taxi drivers, transporters, autorickshaw drivers, houseboat owners, shikarawallas and others who have been affected by the economic slowdown amid the Covid-19 pandemic. He announced that stamp duty has been exempted for all borrowers till March 2021. He also announced that those associated with the handloom and handicraft sectors will get an enhanced credit of ₹2 lakh in credit cards as also a 7% interest subvention to improve these sectors.