Govt cancels land allotment of 586 units for failing to respond
Jammu, Nov 17 (PTI) Jammu and Kashmir government on Thursday issues final notices for cancellation of land allotment to 586 entities which failed to set up units under the much-touted ‘new industrial development scheme.
Notices have been issued as these units failed to deposit the land premium and execute lease deed, according to a top official. The step has been taken to provide opportunity to others in the long queue.
The Jammu and Kashmir administration in January 2021 announced a new industrial development scheme (IDS) with a total outlay of Rs 28,400 crore to encourage new investment and take industrial development to the block level.
Approved by the Government of India, the new IDS for was not only meant for ushering in an era of socio-economic development of the region, but also take development to the block level and far-flung areas of Jammu and Kashmir.
The final notice was issued by Jammu & Kashmir State Industrial Development Corporation (SIDCO) Managing Director Smita Sethi on Thursday. These allotted units include 462 in Kashmir valley and 124 in Jammu region.These units were granted 500 to 600 acres of land in dozens of industrial estates set up by J&K government.