The Jammu and Kashmir government has approved an Action Plan of Rs 897 crore for Srinagar, the summer capital of the State, for the 2011—12 fiscal.
The Action Plan for Srinagar was approved at a District Level Review Committee (DLRC) meeting chaired by District Development Commissioner Meraj Ahmad Kakroo here yesterday, an official spokesman said.
The action plan includes Rs 22.58 crore for agriculture and allied sectors, Rs 205.10 crore for small enterprises, Rs 20.00 crore for micro credit institutions, Rs 17.50 crore for education and Rs 112.00 crore for housing, the spokesman said.
He said Rs 520.00 crore has been allocated for the non-priority sector. An amount of Rs 62.05 crore has been earmarked to accommodate unemployed and educated youths of the district.
While reviewing last year’s action plan, the meeting was informed that an amount of Rs 349.15 crore was disbursed by financial institutions for the establishment of 15,747 units in the priority sector, against a target of Rs 288.10 crore.
Mr. Kakroo emphasised on the need for sponsoring agencies and banks to expand their reach to the lower strata of the society by speeding up the process of credit flow and making loan sanction procedures simple and hassle-free.