J-K govt approves 44, 000 Cr financial package for submission to Centre

The proposal includes financial support and concessions for business community, agriculture and horticulture sector, transport sector, tourism sector, industrial sector, artisans, and other sectors.

The cabinet which approved the package has sought funds to the tune of Rs. 44, 000 Cr for the rehabilitation of the affected people in the State.

The J-K government has approved a special financial package for submission to center government for providing of funds for rehabilitation of the people who suffered due to floods. The cabinet which approved the package has sought funds to the tune of Rs. 44, 000 Cr for the rehabilitation of the affected people in the State.

An official statement issued here said that the cabinet which met here under the Chairmanship of Chief Minister Omar Abdullah on Friday, also decided to “approach the Union Home Ministry for releasing funds to the tune of Rs. 1947.20 Cr under NDRF besides requesting the Union Government to declare tax holiday for the J&K State for a period of 10 years to help in the revival of the State’s economy.”

“The approved proposal under the special financial package includes payment of ex-gratia relief against the loss of private structures to the tune of Rs. 9 lakh for fully damaged Pucca house, Rs. 6 Lakh for fully damaged Kucha House, Rs. 4 Lakh for partially damaged Kucha/Pucca House including boundary walls and Rs. 1 lakh for other structures,” the statement said. “The affected families whose houses are fully damaged can also avail housing loan upto Rs. 20 lakh at 4% interest only, as the balance interest to be charged by the banks shall be borne by the Government.”

The statement further said that the proposal includes financial support and concessions for business community, agriculture and horticulture sector, transport sector, tourism sector, industrial sector, artisans, and other sectors.

According to statement, the floods affected over 15 lakh families that spread over 5794 villages. “As per the initial assessment received, around 344607 structures have suffered damages, 90 thousand cattle/sheep perished, crop loss reported in 6.52 lakh hectares of land besides huge loss to the public/private infrastructure.”

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