Jammu and Kashmir Lieutenant Governor Manoj Sinha Saturday announced a Rs 1,350 crore relief and rehabilitation package for the business community in Jammu and Kashmir, in light of the Covid-19 economic slowdown.
The main component of the package is 5% interest subvention (a grant by the government) to all borrowers “irrespective of size”, which would cost the administration Rs 950 crore, and would be available for six months in the current financial year, the LG said, terming the move unprecedented.
“There are special circumstances here. For the last several years, people involved in…