₹1,350 crore package to benefit J&K's businesses

Jammu & Kashmir LG Manoj Sinha on Saturday announced a ₹1,350 crores economic package for the businesses in the union territory. The package includes 5% interest subvention to every borrower, without any conditions for six months in the current financial year. Stamp duty will also be exempted up to March 2021 for all borrowers. 50% discount is to be given for a year in electricity and water bills as well. A customised Health-Tourism scheme by J&K bank will be set up with good pricing and repayment options. Decision to extend maximum limit to Rs 2 lakh under the credit card scheme has been taken to benefit people working in handloom & handicraft industry, who will be given 7% interest subvention. Special desk for youth on women enterprises is on its way too.