50% discount on water, power bills; sops for businesses: J&K economic package

Manoj Sinha, Jammu and Kashmir Lieutenant Governor, announced a package worth Rs 1,350 crore aimed at boosting economic activity in the Union Territory. While the package contains some relief for common people like 50% discount on electricity and water bills for a year, the main beneficiaries are businesspersons, traders, and industrialists. From an interest subvention scheme for all commercial borrowers, to doubling of amount available under the credit card scheme for the handicraft industry, and special efforts to boost tourism - the announcement will help create lakhs of jobs in J&K, as per the L-G. Commenting on the scheme, chief of the J&K Apni Party, Altaf Bukhari, said that Sinha had proven that he was a man of his word by expeditiously bringing in an economic package. However, he added that given the Rs 40,000 crore loss suffered by the UT's economy, the current package was a drop in the ocean, and a 'large heart' was needed to truly revive J&K's economy. Watch the full video for more.