Srinagar: Union Finance Minister Nirmala Sitharaman inaugurated "The Chinars," a new Income Tax building and Residential Complex in Srinagar, Jammu and Kashmir, on Monday, November 22. In the presence of Jammu and Kashmir Governor Manoj Sinha, the Union Minister officially opened the facility.

"Nirmala Sitharaman's office sent out a tweet, "In Srinagar, Smt @Nirmalasitharaman inaugurates 'The Chinars,' @IncomeTaxIndia's first permanent establishment in the UT. The Income Tax Office was relocated several times after a devastating terror assault in 2005. It now has a permanent home after more than 14 years.

"Path on which Jammu and Kashmir is moving forward and its initiatives have been a success due of the finance minister," Governor Manoj Sinha remarked at the inauguration ceremony.

"A new industrial development scheme for the union territory of Rs 28,400 crores has been launched; our industry department got a proposal for Rs 29,000 crores in nine months, of which Rs 1400 crore was invested. We will entertain a proposal of Rs 35,000 crore until December "Sinha continued.