J&K realizes Rs 1,752 Cr worth of investments in current fiscal; over 19K youth get jobs

Srinagar: Jammu and Kashmir government has realized investments worth Rs 1,752.10 crore in the first six months of the current fiscal. It has generated employment for 19,926 qualified youth

An official document accessed by The Kashmir Monitor revealed that investments have come for the establishment of 2540 units in Jammu and Kashmir. Of which 2329 units have to be set up under the Prime Minister’s Employment Guarantee Programme (PMEGP).

For Kashmir investment worth Rs 1285.61 crore has been realised by Departments of Industries and Commerce, which ensured employment to 15131 persons.

An investment worth Rs 466.49 crore has come for the setting up of units in Jammu, which guaranteed jobs for 4795 deserving youth.

Figures revealed that 122 units for which investment worth Rs 693.6 crore have commenced production. These 122 units created jobs for 2777 youth.

Official documents suggested that investments worth Rs 59.1 crore have come for 21 units that have undergone Substantial Expansion this year till September 30. These units created jobs for 207 persons.

It revealed that investments worth Rs 203.28 crore have been realized from 28 units. These 28 units guaranteed jobs for 566 persons.

Documents reveal that investments worth Rs 32.81 crore have been made in hotels. They have been operationalised but registration in the I&C department is pending for want of documents. The six hotels provided jobs to 127 persons.

 An additional investment of Rs 698.19 crores has been realized to date by 34 new units that have initiated groundwork.  A total of 2780 persons secured jobs from this additional investment.

Documents further reveal an investment of Rs 64.97 crores has come for 2329 units to be set up under the Prime Ministers Employment Guarantee Programme(PMEGP).

As many as 10,996 persons will get employment from these 2329 units.

So far in total,  the government received 6231 investment proposals with investment of Rs 87,923 crores and potential employment of 3,92,162.

Jammu and Kashmir realized investments worth Rs 2153.45 crores during the financial year 2022-23, which is the highest in the last decade.

Last year a direct employment of 11,091 was generated, an official document revealed.

Pertinently, Lieutenant Governor Manoj Sinha on Sunday said the region has emerged as a favorite destination for investors in the country and abroad

He said the government was working to ensure that these investment proposals are translated into tangible projects for the development and prosperity of the people of Jammu and Kashmir.