Union Minister for Road Transport and Highways Nitin Gadkari will lay foundation stone for 25 National Highway projects of total length 257 Km with an investment of Rs 11,721 crores in Jammu on Wednesday. These projects will provide all weather connectivity between Jammu and Kashmir valley. These are strategically important for swift movement of defence forces along with agricultural, industrial and socio-economic progress of the region.
The projects will connect all major roads leading to various district headquarters and will help in generation of employment and self-employment oppurtunities. The projects will involve Rehabilitation and upgradation of some sections, construction of Viaduct and tunnel and Rectification of black spots.
Meanwhile, with the aim to promote entrepreneurship and boost employment in Jammu and Kashmir, Finance Minister Nirmala Sitharaman handed over sanction letters for Rs 306 crore to 145 beneficiaries of various credit-linked central schemes in Jammu on Tuesday.
Sitharaman reached the Union Territory on Monday as part of the Centre’s outreach programme. On the second day of her visit to Jammu and Kashmir, the Finance Minister also announced a number of new schemes and initiatives for the union territory which included the launch of the Tejasvini and Hausala schemes of J&K Bank, Shikhar and Shikara schemes of Punjab National Bank (PNB) and SIDBI cluster development fund for Rs 200 crore.
According to the Ministry of Finance, the Tejasvini scheme focuses on providing financial assistance of Rs 5 lakh to girls between 18-35 years for starting their business. Shikhar scheme focuses on meeting credit requirements up to Rs 2 crore for the hotel, tour and tourism industry. Under the Shikara scheme credit up to Rs 15 lakh for purchase/repair of Shikaras is provided in Kashmir valley.
Sitharaman also laid the foundation stone for Rural Self-employment Training Institutes (RSETI) building at Shopian and Baramula and inaugurated J&K Bank branches of Salal, Bagga and Budhan in Reasi district. Under the aegis of the National Bank for Agriculture and Rural Development (NABARD), registration certificates to five FPOs were handed over and also sanction letter of rural mart to Asha SHG was handed over.
For FY 2020-21, it was announced that NABARD for Jammu and Kashmir is increasing its commitment under Rural Infrastructure Development Fund (RIDF) from Rs 787 crore to Rs 1,500 crore which will help in the creation of rural infrastructure for faster economic growth, said the Ministry of Finance.
To further accelerate economic growth, banks will also increase their ground-level credit in Jammu and Kashmir for the previous year level of Rs 14,735 crore to Rs 16,000 crore in the current Financial Year.
