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SRINAGAR: The Centre has formulated a scheme worth Rs 3500 crore for the industrial development of Ladakh Union Territory. The Union Ministry of Commerce has already approved the scheme, but the cabinet committee on economic affairs (CCEA) is yet to green light it. The scheme is modelled on a similar initiative launched in Jammu & Kashmir in 2021 with a financial outlay of Rs 28400 crore.
A report by the department-related parliamentary standing committee on commerce, states that the scheme was expected to launch in 2022-23. However, due to delays, it could not be launched until now. As per the Expenditure Finance Committee (EFC) approval, the scheme will utilize Rs 2.30 crore and Rs 97.30 crore in 2022-23 and 2023-24, respectively.
The parliamentary committee has recommended that the Centre take necessary measures to make the scheme operational, including pursuing the matter with the CCEA and revising the budgetary allocation as required. Once approved, the scheme can be swiftly implemented, according to the report.
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( With inputs from : kashmirlife.net )
