Business Revival in J&K: LG Reviews Progress

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Srinagar: Lieutenant Governor, Manoj Sinha on Monday sought a detailed report on a host of financial and administrative measures recommended for the revival of the business sector and directed disbursement of financial assistance to the beneficiaries at the earliest.

In a meeting held on Monday at the Civil Secretariat here, Sinha reviewed the progress made on the recommendations of the Committee on Business revival in Jammu and Kashmir, an official spokesperson said.

The LG, he said sought a detailed report on a host of financial and administrative measures recommended for the revival of the business sector along with financial implications and accorded timelines, aimed at helping business and entrepreneurs and steps taken thereon.

“Business sector is the backbone of every economy and it is important that the government machinery must lay a special focus on its revival and for the welfare of the people associated with it,” LG, as per official spokesperson said.

Sinha, he said stressed on effective implementation of the recommendations made by the Committee as per the timelines set up by the government to improve the overall business environment of J&K.

The official spokesperson said that the LG directed the officers to disburse financial assistance to the beneficiaries at the earliest.

“He directed for holding workshops for awareness of NPA and GEM on-boarding to be held in 20 districts for 10 days which shall be jointly organized by the Finance Department and J&K Bank. He also called for extending support to small businesses, weavers, artisans by effecting purchases by Government Departments exclusively,” the official spokesperson said.

On promoting skill development, the official spokesperson said that the LG directed the concerned officers to work out the Skill Development Department calendar of events for promoting skill development amongst the rural population and trade specific training at grass root level.

“He further laid emphasis on Buyer-Seller meets to be organized by the Industries & Commerce Department across the UT, especially export oriented handicrafts, round the year. Buyer-Seller meets shall be organized for encouraging participation of local industries in handicrafts and other allied sectors and for suppliers to cantonments. This will be a regular feature round the year,” he added.

He said that Sinha also asked the Industries and Commerce Department to come up with a comprehensive plan to save all potentially viable MSME sick units. The LG, he said, also directed the concerned officers to seek every option and opportunity for increasing the production of Apple, Walnuts, and Almonds through high density plantation.

The official spokesperson further said that the LG took stock of the progress made on various financial measures recommended by the Committee including Interest subvention of 5% in case of all borrowers excluding borrowers under KCC, ACC, Loan against deposits, Loans under personal segments, NBFCs ; 50 % Waiver of the fixed charges of electricity in respect of the Industries and Commercial Establishments for a period of 1 year from January 2020 to December, 2020; 50 % waiver of the water charges in respect of the Industries and Commercial Establishments for a period of 1 year from January 2020 to December, 2020; Bus Drivers/cleaners/ Sumo Drivers and auto drivers who have moved to construction works shall be registered with the Building and other Construction Workers Board and paid monthly remuneration of Rs 1000 each in DBT mode for a period of six months as per norms; Release of Pending interest subvention under 2014 and 2016 rehabilitation schemes for restructured accounts; 80% subsidy amounting for installation of the bio-digesters in the Houseboat; 50% subsidy or Rs 5.00 lakh whichever is lower shall be provided to the transporters for replacement of old buses; Payment of Rs 1000 per month to Shikara Walas/Workers in the House boats/Tourist Guides/Pithuwalas/Dandiwalas/Sledge Walas/Pony & Camel walas for further 6 months upto December, 2020 etc.

 

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