Govt working to improve industrial resilience in J&K: Deputy Chief Minister
Jammu, Feb 4: Deputy Chief Minister Surinder Chaudhary today said that the government has undertaken numerous initiatives to improve cash flow, address financial stress and strengthen the economic resilience of industrial units, MSMEs, artisans, weavers and farmers of Jammu and Kashmir.
The Deputy Chief Minister was replying to a question raised by Legislator Waheed ur Rehman Parra in the House.
He added that the government has launched the JKMSME Health Clinic as an institutional mechanism to identify early signs of industrial stress using analytics and facilitating systematic assessment and customised remedial measures for revival.
He said that access to finance has been further strengthened under the Raising and Accelerating MSME Performance (RAMP) programme through enhanced linkage with the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
The Deputy Chief Minister said that the J&K Industrial Policy 2021–30 continues to provide multiple incentives, including turnover and SGST incentives, green initiatives, 100% subsidy on diesel generator sets, exemptions from stamp duty and court fee, besides subsidies for quality certification, automation and pollution control.
He said that the revival and rehabilitation of sick MSMEs are being guided by the RBI’s Framework for Revival and Rehabilitation of MSMEs, enabling restructuring of liabilities and need-based financial assistance.
Regarding the welfare of artisans and weavers, the Deputy Chief Minister said that several targeted schemes are being implemented on this account. These included the Credit Card Scheme for Artisans and Weavers, offering credit up to Rs.2 lakh with 7% interest subvention; financial support to cooperatives and SHGs; Karkhandar Scheme for skill upgradation; Weavers MUDRA Scheme and the Education Scheme for Children of Artisans and Weavers.
He said that GI-certified unit holders are also being provided with rent-free stalls and full support for participation in exhibitions. Additionally, master craftsmen facing indigent circumstances receive monthly assistance under the Direct Benefit Scheme.
The Deputy Chief Minister said that the Agriculture Production Department is extending robust financial relief to the farmers through interest subvention on crop loans under the Modified Interest Subvention Scheme, credit restructuring in case of natural calamities and comprehensive crop insurance under the Pradhan Mantri Fasal Bima Yojana (PMFBY).
Further, he said that the Agriculture Infrastructure Fund (AIF) and Animal Husbandry Infrastructure Development Fund (AHIDF) are promoting long-term investment in agriculture and livestock infrastructure through interest subvention and credit guarantees.
