In a historic decision, the Union Territory Level High Powered Steering Committee has approved three urban development projects worth Rs 2,692.58 crore for the region under Urban Challenge Fund of the Government of India
This decision marks a significant step toward developing J&K as a progressive region of the Country
With its age-old challenges, the cities of J&K have been languishing in terms of infrastructure development. However, times are changing and the UT administration is now focused on meeting the requirements of the future.
The decision of the UT administration to utilise the competitive funding mechanism of UCF reflects its prudent financial management. Though the details of the project proposals are not available, these projects are bound to have a positive impact on the people of the UT, particularly the youth. With a base cost of more than Rs 2,600 crore, these projects would create employment opportunities directly as well as indirectly. This is in addition to enhancing the overall infrastructure of the state.
It may be recalled that UCF promotes eco-friendly projects, thus, these projects would also contribute towards making our cities greener and environment-friendly without compromising on the existing scenic beauty.
Furthermore, this decision also reflects the improved Centre-UT interface in terms of ushering in progressive measures for the development of the UT. Emphasis on Ease of Living would add to the infrastructure development, more amenities and decongestion of the UT’s urban spaces, which in turn, would add to the investment attractiveness of the UT.
In fact, these projects would create a healthy environment for promoting private sector participation. The investment climate would improve as a result of these projects with a positive spillover impact on the local supply chain and ancillary industries.
Thus, people of J&K have every reason to be optimistic about the proposed projects which have received the approval of the UT administration. The decision is a step towards positioning J&K as a modern state-of-the-art region in the years ahead.
