Srinagar, Feb 07: The Centre on Wednesday informed that Jammu and Kashmir witnessed boost in investments after abrogation of article 370 with a total of Rs 5656.78 Cr received so far.
In a reply to a question in Rajya Sabha, Minister of State for Home Affairs, Nityanand Rai informed that the Government has introduced multiple policies and schemes to encourage industrial development and attract investors to the Union Territory of Jammu and Kashmir.
He said that the New Central Sector Scheme for Industrial Development, along with various policies, aims to boost capital investments which include J&K Industrial Policy 2021-30, J&K Industrial Land Allotment Policy, 2021-30, J&K Private Industrial Estate Development Policy 2021-30, Policy for Promotion of Foreign Investment in Industrial Sector in J&K, 2022, J&K Single Window Rules, 2021, Turnover Incentive Scheme, 2021, J&K Wool Processing, Handicrafts and Handloom Policy, 2020, Financial Support Scheme for Cooperatives/Self Help Groups, 2020, Credit Card Scheme for Artisans and Weavers, 2020, Kharkhandar Scheme for Development of Craft Sector in J&K, 2021, Revised Education Scheme 2022 for Artisans/Weavers of Handicrafts and Handloom Department and Export Subsidy Scheme, 2021.
The impact of these measures is reflected in the increasing trend of investments over the years. In the financial year 2019-20, the industrial sector witnessed an investment of Rs. 296.64 crore, which rose to Rs. 2153.45 crore in 2022-23, he added.
He said that the continuous growth signifies positive developments in sectors like tourism, handloom, food processing, and infrastructure, including construction, roads, and power.
Meanwhile, The Central government on Wednesday said that before abrogation of Article 370, Jammu and Kashmir residents were deprived of the benefits of a number of progressive laws but now they are enjoying rights available to citizens of other parts of the country.
In response to a question in the Rajya Sabha, Minister of State of Home Affairs Nityanand Rai informed that after abrogation of Article 370 and application of all the provisions of Constitution of India, the Central Laws which were earlier not applicable to erstwhile State of Jammu and Kashmir, were made applicable and are implemented in the Union territory.
He said that after abrogation of Article 370 all the progressive laws such as the Right of Children to Free and Compulsory Education Act, 2009, the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, the Scheduled Tribes and other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006, the Scheduled Castes and Scheduled Tribes (Prevention of Atrocities) Act, 1989, the WhistleBlowers Protection Act, 2014, the Juvenile Justice (Care and Protection of Children) Act, 2015, the National Commission for Minorities Act, 1992, The National Commission for Safai Karmacharis Act, 1993 etc. have been extended to Jammu and Kashmir.
Now, residents of J&K are enjoying rights which are available to citizens in other parts of the country, he added.
