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JUNE 14: Jammu and Kashmir is poised to embark on a significant phase of infrastructure development under the Special Assistance to States for Capital Investment (SASCI) scheme. Chief Secretary Atal Dulloo has announced that the Union Territory is eligible for thousands of crores in financial assistance through 50-year interest-free loans, which will serve as a critical driver for comprehensive infrastructure growth and key sectoral reforms.
This substantial financial support under SASCI presents a transformative opportunity for Jammu and Kashmir to address longstanding infrastructure gaps across multiple sectors. The government has identified several key focus areas where the infusion of capital will make the most impact, including urban development, mining, transportation, and the creation of iconic tourism infrastructure. These sectors have been strategically chosen to stimulate economic activity, generate employment, and attract private investment, ensuring long-term sustainable development.
In a high-level meeting, Chief Secretary Dulloo emphasized the importance of adopting a mission-mode approach. All concerned departments have been instructed to act swiftly, formulate comprehensive project proposals, and submit them within the stipulated deadlines to maximize benefits under the scheme. Timely submission and efficient execution of these proposals are expected to fast-track development projects that have the potential to transform the region’s socio-economic landscape.
The financial assistance offered through SASCI is unique due to its long repayment tenure and zero-interest clause, significantly reducing the fiscal burden on the Union Territory. This will enable the administration to plan and execute large-scale projects without the immediate pressure of repayment, ensuring resources are focused on delivering impactful outcomes.
The government’s approach under this initiative is not limited to mere infrastructure creation but also incorporates key elements of sustainability, accountability, and governance reforms. By embedding reform-linked incentives into project planning, Jammu and Kashmir aims to build resilient infrastructure that aligns with both current needs and future demands.
As Jammu and Kashmir enters this new phase of growth and development, the administration’s proactive and reform-driven strategy is expected to bring lasting benefits to its people. The SASCI scheme thus marks the beginning of a new chapter where infrastructure development and good governance go hand in hand, setting a strong foundation for the Union Territory’s future prosperity.