Jammu, Mar 15 (KNN) Finance Minister Nirmala Sitharaman said MSME units in Jammu & Kashmir received Rs. 143 crore under the Emergency Credit Line Guarantee Scheme (ECLGS) during COVID19 pandemic.

She said this while announcing the J&K budget on Monday in the Parliament, announcing an allocation of Rs 1002 crore for the Jammu & Kashmir Industry & Commerce Department from the total budget of Rs 1.12 lakh crore.

Presenting the budget, she stated that about 1,198 startups have been registered in J&K and more than 200 startups funded till now.

Commenting on the budget, Lalit Mahajan, President, Bari Brahmana Industries Association (BBIA) said, “We welcome this budget as it as industry friendly document, however we request for the completion of infrastructural work in the new Industrial Estates with the availability of road connectivity, power infrastructure and other related work.”

FM Sitharaman also presented supplementary demands for grants, demands for grants, and demands for excess grants for the Union Territory of Jammu and Kashmir.

She said that in next three years and power generation capacity will be doubled and the investment proposal under new industrial policy shall be cleared on a fast track basis.

Since the abrogation of Article 370, the government has been promoting and tapping various opportunities, investments in sectors such as handicrafts, handlooms to boost the economy. (KNN Bureau)