J&K receives investment proposals of Rs 31,000 cr after abrogation of Article 370.

New Delhi: The Ministry of Home Affairs has informed the Rajya Sabha that investment proposals worth Rs 31,000 crore have been received in Jammu and Kashmir after Article 370 was repealed: In a written reply to the Rajya Sabha on Wednesday, Union Minister of State for Home Affairs Nityanand Rai stated that the Government of Jammu and Kashmir had received investment proposals worth roughly Rs 31,000 crore since the repeal of Article 370.

The Government has notified the New Central Sector Scheme for Industrial Development of Union Territory of Jammu and Kashmir (J&K) on February 19, 2021, to attract capital investments in Jammu and Kashmir, according to MoS Home Nityanand Rai in a written reply to Rajya Sabha on the question of MP Narayan Dass Gupta. The J&K Industrial Policy, J&K Private Industrial Estate Development Policy, and J&K Industrial Land Allotment Policy have all been included to this.

"These initiatives have elicited a positive reaction, with the Government of Jammu and Kashmir reporting that it has received bids for investments worth roughly Rs 31,000 crore so far," MoS Home Rai added to the Upper House.

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