Changes in land laws to boost industry: Manoj Sinha

Lieutenant Governor Manoj Sinha announced sanction of over 10,000 loan cases for the union territory's budding entrepreneurs under various programmes today. Speaking at a press conference in Srinagar, LG said that steps need to be taken to set up industrial plants in Jammu and Kashmir to promote industry and provide employment to the youth.

Srinagar:Jammu and Kashmir Lieutenant Governor Manoj Sinha today said that the new land laws have been introduced so that any resident of the country can buy non-agricultural land in the Union Territory, in order to boost the economy and the industrial sector in the Union Territory.

However, he said that the ban on the sale of agricultural land would continue.

Speaking at a press conference in Srinagar, LG said that steps need to be taken to set up industrial plants in Jammu and Kashmir to promote industry and provide employment to the youth.

Lieutenant Governor Manoj Sinha also announced sanction of over 10,000 loan cases for the union territory's budding entrepreneurs under various programmes.

Sinha said his mantra for Jammu and Kashmir revolved around 'four Ps' -- peace, progress, prosperity and people.

The sanctioning of over 10,000 cases under B2V3 (back to village-3) self-employment programme, economic package and 'My Town-My Pride' highlights the UT government's commitment to empower the youth which is one of the foremost priorities of J&K government, he said.

Sinha said 15,309 applications were received, out of which 10,828 have been sanctioned and an amount of Rs 100 cr has been disbursed to 6,734 applicants, identified under B2V3.

The Lt Governor also handed over a cheque of Rs 250 crore to J&K Bank as commencement of disbursement of 5 per cent Interest Subvention and coverage of re-structured accounts following 2014 floods and 2016 agitation.

It may be recalled that the Union Ministry of Home Affairs today issued a notification regarding new land laws. According to the notification, new rules have been framed for the Jammu and Kashmir and Ladakh Union Territories.

These laws have removed the reservations for buying land in Jammu and Kashmir and the words permanent resident have been removed in the new laws. Under sections 370 and 35A, only permanent residents could buy land in the erstwhile state of Jammu and Kashmir.

With inputs from agencies