India to announce massive package to revive J&K’s ailing economy
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Addressing a press conference at Rajbhawan, Sinha said the review committee has submitted its report which is under consideration with the GoI.
Jammu and Kashmir, India. Lieutenant Governor (LG) Manoj Sinha Monday said that the Gov-ernment of India (GoI) would announce a massive package in a week’s time to revive Jammu and Kashmir’s ailing economy.
Addressing a press conference at Rajbhawan, Sinha said the review committee has submitted its report which is under consideration with the GoI.
On August 17, after an interaction with Kashmir Chamber of Commerce and Industry (KCCI), the newly-appointed Lt Governor Manoj Sinha had formed a committee to make an assessment of the overall economic scenario of the erstwhile State and propose fresh measures to ensure its revival.
The committee headed by Advisor to Lt Governor, Kewal Kumar Sharma was directed to submit its report to the Lt Governor by September 1, so that necessary measures can be initiated in the right direction. “I think there is going to be a major announcement about a big package within a week’s time,” he said.
Sinha said the package would be first of its kind and would not only take care of the ailing business sec-tor but the other sectors that have suffered in J&K.
As per the KCCI estimation, Kashmir suffered losses worth Rs 45,000 crore after the lockdown due to abrogation of Article 370 in August last year which was further compounded by COVID-19 pandemic.
“The business sector didn’t suffer for the past one year only but from the past 15 or 20 years, every sector has suffered losses,” he said.
About prevailing corrupt practices in the administration, Sinha reiterated zero-tolerance against corruption. He said strong action would be taken against any official found involved in such practice.
Sinha also assured that the jus-tice will be delivered in an alleged fake encounter in Amshipora, Shopian on July 18 in which three youth from Rajouri were killed by the government forces.
“The probe by the administration and the army is underway. I will ensure that there is no injustice,” he said. Meanwhile, in a statement, KCCI President Sheikh Ashiq welcomed LG’s announcement saying the package would provide much-needed succour to the region’s ailing economy.
“We are desperately waiting for the package. LG’s announcement has rekindled our hope for the better business opportunities ahead,” he said. (Agencies) Geneva. The coronavirus pandemic appears to be accelerating worldwide, with
