Lieutenant Governor Manoj Sinha on Saturday announced concession in water and electricity bills for the people of Jammu and Kashmir and added that the government has decided to extend the maximum limit of Rs 1 lakh to Rs 2 lakh for the people under the credit card scheme involved in handloom and handicraft industry.
” For one year, we will be giving a 50 per cent concession in water and electricity bills. We will be spending Rs 105 crore on this. This will benefit farmers, normal people, businessman and others. The stamp duty has also been exempted up to March 2021 in the case of all borrowers. The focus is also on setting up customised Health-Tourism scheme by Jammu and Kashmir Bank for financial assistance to people in the tourism sector with good pricing and repayment options,” he said while addressing a press conference in Raj Bhawan.
“Under the credit card scheme, we have decided to extend the maximum limit of Rs 1 lakh to Rs 2 lakh for people working in the handloom and handicraft industry. They will also be given 7 per cent interest subvention. From October 1, Jammu and Kashmir bank will start a special desk for youth and women enterprises,” he added.
These announcements came after the Jammu and Kashmir Lieutenant Governor announced a relief package of Rs 1350 crore for the UT in a bid to boost the business and the other ailing sectors that have suffered huge losses for several years.
“I am glad to announce a Rs 1,350 crores economic package for the people in the business community facing economic difficulties. This is additional to the benefits of Atma Nirbhar Bharat and other measures taken by us to comfort the business community,” he said.
He said that Rs 1350 Crore economic package is apart from Rs 1400 Crore package announced for Jammu and Kashmir under Aatma Nirbhar Abhiyan of which Rs 6000 is for power sector reforms etc.
Giving more information about the package, the Jammu and Kashmir Lieutenant Governor said that it will also cover those sectors that have suffered losses in the newly created UT in addition to the ailing business sector.
Notably, this package was announced just days after Kashmir Trade Alliance (KTA), an umbrella of various trade bodies, had earlier stated that due to coronavirus pandemic lockdown businessmen have incurred huge losses.