J-K received proposals for investments worth Rs 31,000 crore: MoS Home Nityanand Rai in RS

Union Minister for State Home Affairs Nityanand Rai on Wednesday informed Rajya Sabha in a written reply that the government of Jammu and Kashmir had reported receiving proposals for investments worth approximately Rs 31,000 crore so far, post the abrogation of Article 370.

Rai responded to a question by MP Narayan Dass Gupta who enquired whether there had been an investment of Indian or foreign capital after the abrogation of Article 370 from Jammu, Kashmir and Ladakh, to attract capital investments in the Union Territory.

"The government has notified the New Central Sector Scheme for Industrial Development of Union Territory of Jammu & Kashmir (J&K) on February 19, 2021, to attract capital investments in Jammu and Kashmir. This has been supplemented by the Jammu and Kashmir Industrial Policy, Jammu and Kashmir Private Industrial Estate Development Policy and J&K Industrial Land Allotment Policy," Rai said in the reply.

"These steps have generated a good response and the Government of Jammu and Kashmir has reported receiving proposals for investments worth approximately Rs.31,000 crore so far" MoS Home Rai further informed Upper House.

The Centre has notified the New Central Sector Scheme for Industrial Development of the Union Territory of Jammu and Kashmir (J&K) on February 2, 2021.

( With inputs from ANI )