Srinagar, September 19: Manoj Sinha, Lieutenant Governor of Jammu and Kashmir on Saturday made big announcements for the Union Territory to  boost the business and help the other ailing sectors that have suffered losses amid the COVID-19 pandemic. Sinha announced a relief package of Rs 1,350 crore for Jammu and Kashmir, which is additional to benefits of Atmanirbhar Bharat, along with a slew of other initiatives. "I am glad to announce a Rs 1,350 crores economic package for the people in the business community facing economic difficulties. This is additional to the benefits of Atma Nirbhar Bharat and other measures taken by us to comfort the business community", Sinha said.

While addressing a press conference at Raj Bhawan, LG Sinha said 50% discount will be given for a year in electricity and water bills to people of Jammu and Kashmir. The Lieutenant Governor added saying that for Jammu and Kashmir, the stamp duty has been exempted up to March 2021 in case of all borrowers. "Setting up customised Health-Tourism scheme by J&K bank for financial assistance to people in tourism sector with good pricing & repayment options", Sinha said. Mughal Garden in Jammu and Kashmir to Be Included Into UNESCO World Heritage Site List.

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In his address, Sinha, the newly appointed LG of Jammu and Kashmir, said  that the government has decided to give 5% interest subvention to every borrower from the business community without any condition for a period of six months. "We have decided to give 5% interest subvention to every borrower from the business community, without any conditions for six months in the current financial year. This will be a huge relief and help in generating employment here", Sinha said.

Talking about the credit card scheme, Sinha said the it had been decided to extend maximum limit of Rs 1 lakh to Rs 2 lakh for people working in handloom and handicraft industry. "They will also be given 7% interest subvention. From Oct 1, J&K bank will start a special desk for youth & women enterprises", he said.

(The above story first appeared on LatestLY on Sep 19, 2020 01:19 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).