Summary:
The government has projected to attract an investment of over Rs 20,000 crore through the industrial development scheme which as per the officials is believed to improve the job creation opportunities in J&K which has less presence of the corporate sector.
Paving way for a strong Women Entrepreneur Ecosystem in J&K, the UT Government has already announced a new scheme – Tejaswini under Mission Youth, through which financial assistance of Rs 5 lakhs to the girls between the age group of 18-35 years is provided to start their business, the Lt Governor maintained.
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With the newly announced Rs 28,400 crore Industrial Development Scheme, the Jammu and Kashmir government is aiming to generate employment opportunities for over 5 lakh youth in the coming years.
The government has projected to attract an investment of over Rs 20,000 crore through the industrial development scheme which as per the officials is believed to improve the job creation opportunities in J&K which has less presence in the corporate sector.
The recent measures initiated by the government including ease of doing business and single window clearance has infused enthusiasm among youngsters.
The result is evident by the fact that the recently released report of the Centre for Monitoring Indian Economy (CMIE) has pointed out that the unemployment rate in J&K is at 9 per cent which is after 10 months the rate has come down to single digits.
Lieutenant Governor Manoj Sinha, while speaking at a day-long conference “Education to Entrepreneurship” at SKICC here, said that the government in consultation with all the stakeholders has developed the best Industrial scheme as compared to other regions of the country.
“The unprecedented Rs 28,400 crore new industrial development scheme would further attract a huge investment of Rs 20,000-25,000 crore, besides providing employment avenues and opportunities to around 5 lakh youth.”
It is pertinent to mention that J&K has witnessed a dip in unemployment rate from 16.1 percent in September 2020 to 9 percent in March 2021.
Lieutenant Governor Manoj Sinha has credited youth for this positive change.
While mentioning the CMIE report, Lieutenant Governor Manoj Sinha said J&K has less unemployment rate than Delhi, Goa, Bihar, Himachal Pradesh, Jharkhand and Rajasthan.
He said that the unemployment rate in J&K has gone down to 9% from 16.1 % in September 2020 and gave its credit to the people, especially the youth of J&K.
Lieutenant Governor Manoj Sinha made these remarks during his address at a day-long conference – “Education to Entrepreneurship” – at SKICC here.
The conference was organized by Mission Youth J&K in collaboration with the Taleem-O-Tarbiyat initiative to promote economic development and encourage sustainable livelihood of the youth in Jammu & Kashmir, with emphasis on education, character building, entrepreneurship and skill development.
According to the Centre for Monitoring Indian Economy (CMIE) figures, J&K had 14.2 percent unemployment rate till February 2021, which was among four worst states/union territories in India.
In March, the rate came down to single digits.
The unemployment rates are produced by CMIE using its Consumer Pyramids Household Survey machinery.