Jammu and Kashmir Finance Minister Haseeb Drabu announces industrial development scheme

Posted on:17 Jan 2018 10:44:49
Jammu and Kashmir Finance Minister Haseeb Drabu announces industrial development scheme
17 January 2018 Current Affairs: Jammu and Kashmir Finance Minister Haseeb Drabu announced an exclusive industrial development scheme to expand and promote business activities in the state.

Winding up the discussion on the Budget for 2018-19 in the Assembly, Drabu said that under the scheme, to be rolled out soon, central capital investment subsidy of 30 percent would be provided for plant and machinery and buildings for hotels.

The first time that such benefits are being extended to the services sector.

Around three per cent interest subsidy for five years and 100 percent insurance subsidy under the scheme.

All new industrial units in manufacturing and services sector operational in the state will be eligible for various benefits under this scheme.

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