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On January 7, 2021, central government approved the new Industrial Development Scheme for the union territory of Jammu & Kashmir. This scheme is mainly launched to boost the manufacturing and service sector of the economy. It will also increase the employment opportunities in the union territory. This scheme tends to focus o creating employment opportunities along with skill development and sustainable development. It will also give a boost to the direct investments in the state. Total outlay of Rs. 28,400 crores till the year 2037 is sanctioned for this scheme.
Overview:
| Scheme Name: | Industrial Developmental Scheme (IDS) |
| Approved By: | Central Government |
| Approved On: | January 7, 2021 |
| Benefit: | Generation of new employment opportunities and economic development of Jammu & Kashmir region |
| Main Objective: | To boost industrial and economic development thereby generating new employment opportunities in Jammu & Kashmir region |
| Total Outlay: | Rs. 28,400 crores |
Objectives and Benefits:
- This scheme aims to develop the manufacturing and service sectors in the J&K region
- It aims to generate new employment opportunities in the region
- It tends to attract new investments along with boosting the existing ones
- This scheme will lead to development of the local businesses and industries thereby
- It not only focuses on new opportunities but also focus on the sustainable development of the region
- It will thus enable overall growth and economic development of the region at an increased level
More scheme for employment opportunities
Key Points:
- Central government approved the new Industrial Developmental Scheme for Jammu & Kashmir region on January 6, 2021
- Lieutenant Governor Manoj Sinha announced the scheme approval and welcomed the decision of the central government as he opined this scheme will give the required boost to the economy of Jammu & Kashmir
- This scheme aims to generate new employment opportunities in the region
- Along with new opportunities it also aims at skill development and sustainable development
- It will benefit and give a boost to starting of new businesses and expansion of the existing ones thereby benefiting the local businesses and industries
- It tends to develop the manufacturing & service sector in the economy
- This scheme also aims to increase the investment by attracting new investments along with boosting the existing ones
- It will increase production and manufacturing; new industries will be set up and direct employment will be generated
- Thus, it will thereby lead to social and economic development of Jammu & Kashmir region
- Total outlay approved for the scheme is Rs. 28,400 crores till the year 2037
