Approves incentives for establishing food processing units by Cooperative Societies
272 acres of land allocated for New Industrial Estate in Kathua
DOGRA HERALD BUREAU
Jammu, Jan 19
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.
Meanwhile, the Jammu and Kashmir Government has transferred 272 acres of land to the industries department for setting up a new industrial estate in Kathua district.
The move is aimed at pushing development of the area, creating industrial units and adding employment opportunities in the region.
The Administrative Council (AC) in a meeting chaired by Lieutenant Governor Manoj Sinha on Thursday approved the transfer of state land measuring 2,183 kanal and 14 Marla (272 acres) situated at Gandyal, Majra, Bhagthali and Taraf Manjli villages of Kathua in favour of the Industries and Commerce department for establishment of industrial estate there, an official spokesman said.
Rajeev Rai Bhatnagar, Advisor to the Lieutenant Governor, and Atal Dulloo, Chief Secretary, also attended the meeting.
Since 2019, the administration has transferred over 3,875 acres (31,000 kanals) of land in several parts of the Union Territory to the department of industries and commerce.
A new industrial estate in Kathua shall play an important role in the development of the area, create various employment opportunities, which shall be in the interest of the public and the government, the spokesperson said.
Meanwhile, In order to encourage Cooperatives to set-up small food processing units costing up to Rs 10 lakh, Administrative Council (AC) which met here under Lieutenant Governor, Manoj Sinha approved a proposal of Cooperative Department which provides for 90% credit (subject to a limit of Rs 9 lakh) offered by Cooperative Banks and financial assistance of 50% (subject to a ceiling of Rs 4.50 lakh) of loan amount and 100% interest subvention to be given by the government.
Rajeev Rai Bhatnagar, Advisor to the Lieutenant Governor; Atal Dulloo, Chief Secretary; Mandeep Kumar Bhandari, Principal Secretary to LG attended the meeting.
Cooperative Societies registered in J&K willing to set up Food Processing Units will be offered loan by Cooperative Banks to the extent of 90% of project cost or Rs 9 lakh whichever is less.
The food processing unit has to be set up and operationalized by the cooperative in one year after which 50% cost of the loan amount, subject to a ceiling of Rs 4.50 lakh, shall be released as subsidy by Government to the Cooperative Bank on behalf of the Cooperative.
The balance principal amount of the loan shall be paid by the beneficiary cooperative in the second, third and fourth year in three equal installments to the respective Cooperative Bank.
The entire interest on the loan amount will be paid by Government to the Cooperative Bank on timely re-payment of the loan by the beneficiary cooperative to the bank.
The Cooperative Department shall target setting up of 80 Food Processing Units over a span of two years (2023-24 & 2024-25) under this scheme.
The institutional mechanism for implementation and monitoring of this scheme has also been approved which include committees for formulation, evaluation and approval of DPR/Proposals.
This scheme will provide employment opportunity to the farmers, those involved in Cooperative Sector and Cooperative Banks will earn assured repayments also.
