Srinagar, Dec 15: Jammu & Kashmir Chief Minister Omar Abdullah on Monday said that the funds allocated under the New Industrial Policy (NIP) 2021 have already been exhausted and the UT government has so far been unable to convince the Centre to enhance the allocation.
Reacting to the Centre’s statement in Parliament that there is no proposal to extend the NIP 2021 or provide additional incentives, the Chief Minister said the J&K government is continuously engaging with the Government of India, particularly the Ministry of Finance.
“The amount that was kept under the policy has been exhausted. We are trying with the Government of India, especially the Ministry of Finance, to increase this amount, but so far we have not been able to convince them. However, our efforts are continuing,” Omar Abdullah told reporters.
Earlier, the Union Minister of State for Commerce and Industry, Jitin Prasada, informed the Rajya Sabha that the Centre has no proposal at present to extend the New Industrial Policy 2021 or introduce additional incentives for industries in Jammu and Kashmir.
The Minister said that a total of 918 industrial units have been registered under the policy so far, including 520 existing units, 347 new units and 51 units that have undertaken substantial expansion. Of the new units, 267 have reached the grounding stage, attracting an investment of over ₹2,449 crore and generating proposed employment for more than 23,000 people.
