J & K INDUSTRIAL DEVELOPMENT SCHEME
The union Govt. has formulated the New Industrial Development Scheme for Jammu & Kashmir (J&K IDS, 2021).
ABOUT
- It is a new central sector scheme for the development of Industries in the UT of Jammu & Kashmir.
- The main purpose of the scheme is to generate employment which directly leads to the socio-economic development of the area.
FEATURES
- The scheme is made attractive for both smaller and larger units.
- Smaller units with an investment in plant & machinery upto Rs 50 core will get a capital incentive upto Rs 7.5 core and get capital interest subvention at the rate of 6% of a maximum of 7 years.
- The scheme aims to take industrial development to the block level in UT of J &K.
- The scheme has been simplified on the lines of ease of doing business by bringing one major incentive -GST Linked Incentive that will ensure less compliance burden.