J&K govt reaches out to 16,800 youths with Rs 264 cr financial assistance to boost entrepreneurship

The Jammu and Kashmir government has reached out to 16,800 youths with Rs 264 crore investment to help them become entrepreneurs under the Back to Village B2V and My Town My Pride MTMP programmes and investors from across the globe are eyeing JK as their preferred investment destination, Lieutenant Governor Manoj Sinha said on Wednesday.

The Jammu and Kashmir government has reached out to 16,800 youths with Rs 264 crore investment to help them become entrepreneurs under the Back to Village (B2V) and My Town My Pride (MTMP) programmes and investors from across the globe are eyeing J&K as their preferred investment destination, Lieutenant Governor Manoj Sinha said on Wednesday. Continuing with financial assistance program, Sinha on Wednesday handed over a cheque of Rs 250 crore to Jammu and Kashmir Bank as second installment of 5 per cent interest subvention under the economic package, as a relief for the business sector in J&K, officials said. ''An amount to the tune of Rs 264 crore has been disbursed as financial assistance to 16,800 youth identified to become entrepreneurs under the Back to Village and My Town My Pride programmes,'' Sinha told reporters at Raj Bhawan here. He termed the initiative as bank's home delivery of services to the aspiring entrepreneurs. The Lt Governor observed that around 3.41 lakh small and big businessmen and establishments have availed of the benefits of interest subvention. ''We will continue to release the interest subvention part as and when we receive the request,'' he added. Sinha highlighted the initiatives taken by the government for bringing reforms in the economic sector in J&K. Replying to queries of media persons, the Lt Governor observed that investors from across the globe are eyeing J&K as their preferred investment destination. ''With a ready land bank and plethora of opportunities waiting for them, the investors will find J&K as a promising and lucrative destination for their investments,'' he said. The Rs 28,400 crore new industrial development scheme, will certainly boost the morale of entrepreneurs and investors, he added. In the healthcare sector, the Lt Governor said all efforts would be made to bring the big players to the Union Territory.

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