More land for industrial units, 50% cases get finance from banks

Srinagar, Jan 31 (UNI) Less than 50 per cent of the total cases sponsored by the state industries department have been provided loan and other financial help by various banks to establish income generating units in north Kashmir district of Baramulla, an official spokesman said here today.

Meanwhile, three hundred kannals of land have been identified in the district for unemployed persons for establishing their income generating units.

In all one thousand such persons can establish their units after being duly registered with the Industries department, he added.

He said General Manager Industries Baramulla has sponsored 1484 cases to various banks during the past three years.

However, Rs 7.89 crore have been sanctioned in favour of 623 unit holders only and Rs 27.78 lakh provided as interest subsidy by the department.

Similarly, under Small Scale Industries Scheme another Rs 3.51 crore were sanctioned by banks in favour of 45 unit holders and Rs 109.47 lakh provided as subsidy by the department.

UNI BAS AK HT1626