Union Home & Cooperation Minister Amit Shah launched a web portal for registration of units under New Central Sector Scheme for Industrial Development of J&K.

Under the scheme, investors (small or large) will be eligible to avail incentive worth over Rs 28,000 crore for 10 years by way direct financial assistance and interest subversion. The policy has been worked out by the Department for Promotion of Industry and Internal Trade (DPIIT). Launching the portal, which is aimed at reducing the number of compliances and putting in place a single window for approvals.

Investment of more than Rs 50,000 crore will come in the UT. Under this, there will be all-inclusive, all-round development of the Union Territory.The scheme has also been linked to GST registration made by new investors and they will be eligible for refund of the tax paid in next 10 years.