L-G approves changes to J&K industrial land policy

SRINAGAR: The Jammu and Kashmir Lt Governor administration on Friday liberalised industrial land allotment policy to encourage large-scale investments from big industrialists in the union territory, officials said.

The Administrative Council, which met in Srinagar on Friday under chairmanship of LtGovernor Manoj Sinha, approved amendments in J&K Industrial Land Allotment Policy 2021-30.

An official spokesman said the amendments have been made in the policy to encourage large investments having strategic importance to the economy of J&K. He said the government may allot land on preferential basis to mega projects, mainly industrial/service sector units with minimum capital investment (excluding land and working capital) of at least Rs 4,000 crore.

“The amendments to the Jammu & Kashmir Industrial Land Allotment Policy, 2021–30, will help in realising large investments and this will be a fillip to employment generation in Jammu and Kashmir,” the spokesman said.

“The amendments will ensure equity and transparency among applicants,” he said. According to the government, the objective of the industrial land allotment policy is to create employment opportunities, make an enabling environment of “ease of doing business,” and create new opportunities for creation of dedicated sector-specific industrial parks.