Govt contemplating Investor-friendly measures for J&K: Jitendra

New Delhi: Union Minister Dr Jitendra Singh on Tuesday said that Government is contemplating several Investor-friendly measures for Jammu and Kashmir and some of these have already been initiated. The positive outcome of these initiatives and their beneficial effect on the overall economy as well as job generation will begin to appear soon, he said.
Speaking one-to-one discussion with a delegation led by Kashmir Economic Alliance, comprising representatives from trade, industry, tourism, handicraft, horticulture, agriculture, houseboat, etc, Dr Jitendra Singh said that nearly 30 years of militancy coupled with self-seeking priorities of ruling political parties had pushed back Jammu and Kashmir by several decades or else, the city of Srinagar would have developed like Hyderabad and the city of Jammu like Jallandhar.
However, he said, the determined and decisive initiative taken by the Centre promised to bring about rapid transformation and Prime Minister Narendra Modi accords highest priority to the development of Jammu and Kashmir in order to bring it at par with the other parts of the country and also to give it the same kind of focus which was given to North East in the last five years.
The members of delegation put across some of the immediate concerns and constraints faced by them which, according to them, were causing disadvantage to their business activities.
Following this, Dr Singh called up on telephone the Principal Secretary (Finance), Jammu and Kashmir, Arun Kumar Mehta in their very presence and fixed up a meeting for them with the latter.
He assured the members of the delegation saying, many of the steps taken after the creation of the Union Territory of Jammu and Kashmir aimed at bringing about ease of business.
Some of these, for instance, he said, included amnesty scheme for power tariff, loan scheme envisaging Funded Interest Term Loan, restructuring of loan with relaxation of stamp duty etc.
The members of the delegation said that due to certain intrinsic reasons they were not in a position to avail of some of these new measures and therefore requested for consideration of the inputs furnished by them. They also referred to the past disruption in tourist inflow which had led to substantial loss in houseboat business.
Dr Singh expressed satisfaction over the huge response that the Union Territory Government’s Investor outreach drive had received all over the country, following which MoUs to the extent of nearly Rs 2,000 crore had been signed. He also referred to Home Minister Amit Shah’s laudatory decision of direct procurement and sale of apples which had hugely benefited the farmers and apple growers.
In the times to come, said Dr Singh, many of the business related benefits which were earlier available in the rest of the country but were denied to Jammu and Kashmir, will also be available to the people of the new Union Territory.
The delegation had sought appointment for a meeting through Mohammad Iqbal Trumboo, Vice Chairman, Kashmir Economic Alliance and comprised Maajid Aslam Wafai, Tariq Ghani, Akram Khan and others.