Srinagar, Sep 19 (UNI) Announcing a package of measures, both financial and non-financial, aimed at helping business and entrepreneurs, the Jammu and Kashmir Union Territory (UT) Lt Governor Manoj Sinha on Saturday said a mega relief and revival package of Rs 1350 crore has been approved.
This will help the Jammu and Kashmir business sector to tide over their problems, Mr Sinha told a news conference at Raj Bhavan, third since he assumed charge as Lt Governor of the UT.

He also announced that pending payment of Rs 1500 crore for different government works will also be cleared from 2014 after proper verification and another Rs 950 crore package for setting up industrial units at interest rate of 5 per cent for the first six months of the current financial year. This, he said, will help generating employment in the UT.
In a press conference at Srinagar, the LT Governor announced a package of measures, both financial and non-financial, aimed at helping business and entrepreneurs.

He said that the first part of overall economic package came from Government of India (GoI) in terms of Atma Nirbhar Bharat Abhiyan. He said so far Rs 1400 crore has already been provided through JK Bank and other banks under this Abhiyan. He added that it has many components which seek to help business entities in multiple ways such as provision of liquidity and other financial supports. He said that many welfare measures such as free rations and support to the most needy were also being provided.

Mr Sinha said the main component of today’s package is 5 per cent interest subvention to all borrowers irrespective of their sizes, which would cost about Rs 950 crore. The interest subvention will be available for six months in the current financial year and it will be a huge relief in the current scenario.
Lt Governor went on to say that government has also decided to provide 50 per cent waiver of fixed charges for one year with respect to electricity and water which would cost Rs 105 crore. He said they have also decided to assist bus drivers/conductors, auto/taxi drivers etc who may have lost their livelihood by providing for an appropriate mechanism.
Further 50 per cent or Rs 5 lakh subsidy whichever is lower will be provided to the transporters for replacement of old buses and the insurance premium shall be borne by the Government subject to maximum of Rs 5000 per vehicle for Buses and Mini Buses, Rs 3000 for taxes and sumos and Rs 2000 for three wheelers.
For Tourism Sector, subsidy for installation of Bio-digesters in the houseboats has been announced. Assistance shall also be extended out of ‘JK Relief Fund’ to some 19914 Shikara, House Boat owners, Tourist Guides, Pithuwalas, Dandiwalas, Sledge Walas, Pony , Camel Riders and cash assistance of Rs 1000 to all of them given from last 3 months shall be extended for further six months ending December 31, 2020.
There are more than 3100 artists who have lost their livelihood during the pandemic. The artists associated with the cultural academy shall be paid Rs 1000 per month out of ‘JK Relief Fund’ for a period of nine months with effect from April Ist, 2020.
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