J-K govt has initiated multiple measures to boost industrial units, artisans: Dy CM

Jammu, Feb 4 (PTI) Deputy Chief Minister Surinder Chaudhary on Tuesday said that the Jammu and Kashmir government has initiated several measures to improve cash flow, address financial stress and strengthen the economic resilience of industrial units, MSMEs, artisans, weavers and farmers in the Union Territory.

Replying to a question by legislator Waheed-ur-Rehman Parra in the Assembly, Chaudhary said that the government has launched the health clinics to identify early signs of industrial stress through data analytics and provide customised revival measures.

He said access to finance has been enhanced under the Raising and Accelerating MSME Performance (RAMP) programme through stronger linkages with the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).

Chaudhary said the J&K Industrial Policy 2021-30 offers multiple incentives, including turnover and SGST incentives, green initiatives, 100 per cent subsidy on diesel generator sets, exemptions from stamp duty and court fee, and subsidies for quality certification, automation and pollution control.

He said revival of sick MSMEs is being guided by the RBI’s framework, enabling restructuring of liabilities and need-based financial assistance.

Highlighting welfare measures for artisans and weavers, the deputy CM said schemes such as the Credit Card Scheme for Artisans and Weavers, among others, are being implemented.

He said GI-certified unit holders are being provided rent-free stalls and support for exhibitions, while master craftsmen in indigent circumstances are receiving monthly assistance under a direct benefit scheme.

Chaudhary said farmers are being extended financial relief through interest subvention on crop loans under the Modified Interest Subvention Scheme, credit restructuring in case of natural calamities and crop insurance under the Pradhan Mantri Fasal Bima Yojana.

He added that the Agriculture Infrastructure Fund and Animal Husbandry Infrastructure Development Fund are promoting long-term investment in agriculture and livestock infrastructure through interest subvention and credit guarantees. PTI AB AMJ AMJ