Jammu- The Jammu and Kashmir administration has amended its industrial development policy to ensure a slew of benefits to private enterprises willing to set up new industrial clusters in the Union Territory.
As per the revised policy, private developers and upcoming industrial clusters will get benefits such as up to 100 per cent reimbursement of stamp duty on land purchases, change of land use charges, and registration charges.
The amendments in the Jammu and Kashmir Private Industrial Estate Development Policy (PIEDP), 2021-30 were approved by the Administrative Council (AC) chaired by Lieutenant Governor Manoj Sinha on Thursday, an official spokesperson said.
The meeting was also attended by key officials including Advisor Rajeev Rai Bhatnagar and Chief Secretary Atal Dulloo.
This initiative seeks to ensure a fair playing field for private developers and prospective unit holders within these estates, offering comparable incentives at par with those operating from government-owned industrial estates, the spokesperson said.
The government aims to develop approximately 2,000 kanals (250 acres) of land through private industrial estates.
The policy outlines timelines for document issuance by revenue authorities and procedural guidelines for reimbursement of incentives, the spokesperson said.
In cases where the government land is involved in private industrial estates, land allotment will adhere to terms and conditions specified in the J&K Industrial Land Allotment Policy 2021-30, the spokesperson added.
AC transfers land for development of Industrial Estate at Kathua
The Administrative Council (AC) also approved transfer of State land measuring 2183 Kanal 14 Marla situated at Village Gandyal, Majra, Bhagthali & Taraf Manjli, Tehsil & District Kathua in favour of Industries & Commerce Department for establishment of Industrial Estate there.
Establishment of this Industrial Estate in Kathua District shall play important role for the development of the area, create various employment opportunities which shall be in the interest of the public and the government. The industry sector has been declared as the main vehicle for accelerating economic activity besides providing employment to the educated unemployed youths.
Development of industrial infrastructures has been the focus of special attention during the last few years. In the perspective of industrial growth, Industries & Commerce Department has been established with a system for carrying its activities effectively to attract investment in the UT of J&K.
More than 31000 Kanals of State/Shamilat land has been transferred to Industries and Commerce Department w.e.f 31.10.2019 till date for setting up of Industrial Estates in UT of J&K.
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