Union Commerce Ministry approves, awaits CCEA nod
Srinagar, Apr 4:In a significant move, the Government of India has framed a scheme for the industrial development of Ladakh Union Territory with a total financial outlay of Rs 3500 crore.
The Union Ministry of Commerce has finalized a scheme for the industrial development of Ladakh on the pattern of a scheme unveiled by it for Jammu & Kashmir in 2021 with a total financial outlay of Rs 28400 crore.
“The cabinet note for the scheme is yet to be approved by the cabinet committee on economic affairs (CCEA),” reads a report of the department-related parliamentary standing committee on commerce, a copy of which is in possession of the news agency—Kashmir News Observer (KNO).
The Union Commerce Ministry has apprised the committee that the scheme was expected to be launched in 2022-23, but it couldn’t be unveiled till now. “The committee has been apprised that initially, it was expected that the scheme will be launched in the year 2022-23 on the basis of which Rs 97.30 crore was demanded under the scheme in budgetary estimates 2022-23. However, the scheme could not be launched till now and as per Expenditure Finance Committee(EFC) approval for the scheme, Rs. 2.30 crore and Rs. 97.30 crore is targeted to be utilised in 2022-23 and 2023-24 respectively,” the report further states.
In its recommendations, the parliamentary committee has asked the Centre to take steps to make the scheme functional.
“The committee notes that the scheme is yet to be launched and awaiting approval of the Cabinet committee on Economic Affairs (CCEA). The committee, therefore, recommends the Department to take steps to ensure operational readiness of the scheme so that the scheme can be swiftly implemented as and when approved by CCEA,” the report further states.
The Committee further recommended to the Union Commerce Ministry to pursue the matter with CCEA and revise the budgetary allocation, if required, based on the approval status of the scheme.
