New Delhi: Jammu and Kashmir Lieutenant Governor Manoj Sinha on Saturday announced a major relief package of Rs 1,350 crore for erstwhile state’s business and other ailing sectors — hit by the outbreak of the novel coronavirus. He said that this is additional to the benefits of Atma Nirbhar Bharat & other measures taken by the government to comfort the business community. Also Read - 'J&K up For Sale': Omar Abdullah, Mehbooba Mufti Slam Centre Over New Land Law

Sinha, who replaced GC Murmu last month as the union territory’s L-G, also announced that the government has waived 50 per cent of the electricity and water bill amounts for a year across Jammu and Kashmir with an aim to bring a huge relief to farmers, families and businesses. Also Read - You Can Buy Land in Jammu And Kashmir Now, Home Ministry Issues Gazette Notification

“50% discount to be given for a year in electricity and water bills. Stamp duty exempted up to March 2021 in case of all borrowers. Setting up customised Health-Tourism scheme by J&K bank for financial assistance to people in tourism sector with good pricing&repayment options”, said Sinha. Also Read - BJP's J&K Unit Celebrates Accession Day With Fervour

He also informed that the government has decided to give 5% interest subvention to every borrower from the business community, without any conditions for six months in the current financial year. “This will be a huge relief and help in generating employment here (J&K)”, Sinha added.

Under credit card scheme, Sinha asserted that they have decided to extend maximum limit of Rs 1 lakh to Rs 2 lakh for people working in handloom and handicraft industry. Besides, they will also be given 7% interest subvention. From Oct 1, J&K bank will start a special desk for youth & women enterprises, said the L-G.

Reacting to the announcements made by Sinha, Jammu & Kashmir Apni Party president Altaf Bukhari said that the UT needs a ‘bigger heart if we want to revive its economy.

“We have suffered a loss of not less than Rs 40,000 crores, and a Rs 1,350 crore economic package is a drop in the ocean but something is better than nothing”, news agency ANI quoted Bukhari as saying.

Later, Rohit Kansal, Principal Secretary (Power & Information), Jammu & Kashmir clarified that 50% discount on electricity and  water charges announced in today’s package is 50% discount on fixed demand charges for industrial & commercial consumers. This is not a discount on electricity bills.