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Panel announced for economic revival in J&K

Jammu, 18-Aug 2020

The Jammu and Kashmir administration has set up a committee after consultation with the KCCI to work out modalities for economic revival after the Kashmir Chamber of Commerce and Industry (KCCI) stated that business losses in the Union Territory since the abrogation of Article 370 have crossed Rs 40,000 crore.
The newly-appointed committee would propose measures for extending "the much-needed support to the business community," the administration said. The committee will submit its report to the Lt Governor by September 1, 2020. The government said that report will help it to take necessary measures for the economic revival.
The decision to form the committee was taken on Monday during an interaction between Lt Governor Manoj Sinha along with the representatives of KCCI at the Raj Bhavan auditorium in Srinagar.
"The interaction proved to be a gainful event for the trade bodies as important decisions were made including framing of the committee to make an assessment of the overall economic scenario and propose fresh measures to ensure its revival; extension of power amnesty scheme and taking a holistic view of policy and guidelines for registration, renewal, and operation of houseboats," a Raj Bhavan spokesperson said.
The spokesperson said the Lt Governor announced that the committee will be headed by his advisor, Kewal Kumar Sharma, and will comprise Financial Commissioner, Finance Department; Commissioner Secretary, Industries and Commerce department; Secretary, Tourism; and Chairman, J&K Bank.
During the interaction, the Lt Governor said that trade and industries are the major impact sectors for the economic development of any region and more effective measures are on cards to develop a conducive environment for the growth of the industrial and business sectors in Jammu and Kashmir.