Government is committed to peace, progress & prosperity in J&K: LG Sinha

He also handed over a cheque of Rs 250 crore to J&K Bank as commencement of disbursement of 5 per cent Interest Subvention and coverage of re-structured accounts of 2014 and 2016.

Talking to reporters here this afternoon, Sinha said, 24,000 posts have been identified, out of which 10,000 were advertised in the UT.

He announced some major reforms in the business sector, giving a determined push to the business revival and economic development of J&K, besides empowering youth and women entrepreneurs, making a positive impact on Self Employment.

The Lt Governor observed that his mantra for J&K revolves around 4 P’s -- Peace, Progress, Prosperity and People first. He said that the sanctioning of over 10,000 cases under B2V3 Self Employment Programme, Economic Package and My Town-My Pride highlighted the UT Government’s commitment to empower the youth which is one of the foremost priorities of J&K Government.

He said a total of 15309 applications were received, out of which 10828 have been sanctioned and an amount of Rs 100 cr has been disbursed to 6734 applicants, identified under B2V3.

We had taken up a target of covering at least 2 persons in each Panchayat who were in need of financial assistance for self employment, he added. “I am happy to announce that we have covered nearly 10,000 cases and in order to mark the occasion, one person from each district of J&K is being handed over a sanction letter here” said the Lt Governor.

We stand committed to cover every single aspirant within the Union Territory of J&K, who wishes to set up his own business. What distinguishes the effort this time is the fact that unlike in past, where borrowers had to make several rounds of the bank to get a simple loan, the banks have been more than forthcoming towards helping the people.

The officers went to the villages under B2V3 and My Town My Pride, and identified the aspirants.

He said the officers from the bank also attended these events and in a departure from the normal culture of red-tapism.

"We have been able to sanction these cases within a short period of time, which is reflective of our resolve to help the young generation in achieving their aspirations," he continued.

The Lt Governor called upon the J&K Bank to not only extend financial assistance to these entrepreneurs but also provide handholding to them so that the youth who opt for self employment can set up sustainable businesses and flourish in their lives.