TMI BlogIts a new dawn for Investment & Business Development in J&K: Shri Amit ShahX X X X Extracts X X X X X X X X Extracts X X X X ..... Its a new dawn for Investment & Business Development in J&K: Shri Amit Shah - News and Press Release Dated:- 31-8-2021 - News - Its a new dawn for Investment Business Development in J K: Shri Amit Shah Registration now open for Participation in biggest ever industrial Scheme for Development of Jammu Kashmir with the launch of online portal MSMEs, existing units and other industries to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... benefit from opening of registration More than ₹ 50,000 crore of investments expected in J K: Shri Amit Shah Beginning of online Portal roll out of Central Sector Schemes is historic: Shri PiyushGoyal Union Home Cooperation Minister Shri Amit Shah and Union Commerce Industry, Food Public Distribution and Textiles Minister Shri PiyushGoyal launch Online Portal of New Centr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al Sector Scheme for Industrial Development of Jammu Kashmir J K to have an additional investment about ₹ 12,000 crore in establishment of about 1200 industrial units On-line portal will ensure effective implementation of the scheme in transparent manner with the objective of ease of doing business with no human interface This scheme is expected to generate direct em It s a n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ew dawn for investment business development in J K said Shri Amit Shah Union Home Cooperation Minister, while launching online Portal for registration under the new Central Sector Scheme for Industrial Development of J K. Shri Amit Shah said that investment of more than ₹ 50,000 crore is now expected to take place in J K Speaking on the occasion Union Commerce Industry, Food Pub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lic Distribution and Textiles Minister Shri PiyushGoyal said that the beginning of online Portal roll out of Central Sector Schemes is historic.Shri Goyal said that this mechanism would further improve ease of doing business and bring all round transparency. Lt. Governor of Jammu Kashmir, Shri Manoj Sinha, Dr.Jitendra Singh, Union Minister of State (I/c) of Science Technology and Earth Sc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iences, Minister of State for Home, Shri NityanandRai, Ministers of State for Commerce Industry, Shri Som Prakash and Smt. Anupriya Patel and senior officials of the Government of India were also present on this occasion. This on-line portal has been designed and developed for effective implementation of the scheme in transparent manner and with the objective of ease of doing business. The en ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tire process under the scheme i.e. applying for registration, submitting claims and their processing within the Department, is through the portal deliberately done to avoid human interface. After the launch, the ever biggest industrial scheme which is expected to bring about radical transformation in the existing industrial ecosystem of J K to compete with other leading industrially developed S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tates/ UTs of the country stands opened for registration of eligible units under the Scheme. The Scheme aims to give fresh thrust to industry and services led development of J K with emphasis on job creation, skill development and sustainable development by attracting new investment and nurturing the existing ones. The Scheme also supports employment to about 35,000 persons indirectly alread ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y working in existing units through Working Capital Interest subvention component of the scheme. It is expected that the UT of J K will have an additional investment about ₹ 12,000 crore in establishment of about 1200 industrial units. It is anticipated to generate direct employment opportunity for about 78,000 persons along with employment in primary sector including Agriculture, Horticu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lture, Sericulture, Animal Husbandry dairy, inland fisheries etc. through backward linkage including gainful engagement of women at household in craft, handicraft and handlooms. After Historic development of reorganization of Jammu Kashmir with effect from 31 st October, 2019 into the UT of Jammu and Kashmir under the J K Reorganization Act, 2019. The Act paved the way for conducive environ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment for overall development of the UT including industrial development with main emphasis on job creation. To supplement the efforts for development in the UT, Department for Promotion of Industry Internal Trade (DPIIT), Ministry of Commerce and Industry Government of India notified a Central Sector Scheme for Industrial Development of Jammu Kashmir on 19 th February, 2021. Total finan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cial out lay of the scheme is ₹ 28,400 crore and envisages four types of incentives namely: i. Capital Investment Incentive; ii. Capital Interest Subvention; iii. GST Linked Incentive; and iv. Working Capital Interest Subvention. The Scheme is attractive for both MSME (by Capital Incentive component) as well as larger units (by a liberal Capital ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Interest Subvention component).Further, it is simplified on the lines of ease of doing business by bringing one major incentive by way of GST Linked component that will ensure less compliance burden without compromising on transparency. It provides higher quantum of assistance as compared to the earlier Industrial Development Schemes in the past; as the GST Linked Incentive component alone provi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... des for a maximum of 3 times of investment made in P M in addition to the other components of the Scheme. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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