Center to announce ‘big package’ for business revival in J&K: J&K LG

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SRINAGAR: A committee constituted by the Jammu and Kashmir government to suggest a package for the revival of business and other ailing sectors, on Monday, submitted its report and a “big announcement was on cards within a week.

This was stated by J&K Lieutenant Governor Manoj Sinha during a presser. “The committee has submitted its report which is under consideration with the government of India. I think within a week’s time, there is going to be a major announcement about a big package,” he said.

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Sinha said that it was not only the business sector which has suffered for the past one year or so but the fact remains that for the past 15 or 20 years, every sector has suffered losses. “The package would perhaps be the first-ever and would not just cover the ailing business sector but other sectors that have suffered in J&K so far,” he added.

Recently, Kashmir Trade Alliance (KTA), a conglomerate of various trade bodies, had said the Covid-19 lockdown had dented the Valley’s economy by another Rs 21,000 crore and the total loss for since August last year when the Center revoked the special status of the J&K under Article 370, has been around Rs 45,000 crore.