SASCI to give huge push to key infrastructure development in J&K: Chief Secretary

UT eligible to secure thousands of crores as interest-free loan under this scheme

- STATE TIMES NEWS

In a significant move aimed at accelerating the developmental momentum and catalysing key sectoral reforms, Chief Secretary, Atal Dulloo, on Friday chaired a high-level meeting to discuss the adoption and implementation of Government of India's transformative scheme, Special Assistance to States for Capital Investment (SASCI).

Launched by the Government of India in 2021-22 for States and made applicable to J&K UT from the current financial year. SASCI offers a unique opportunity for states and UTs to ramp up their capital expenditure through 50-year interest-free loans, thereby enabling them to invest in critical infrastructure and usher in systemic reforms across ten identified sectors.

The meeting was attended by Administrative heads of all the major departments along with other senior officers. The Chief Secretary termed the scheme a catalyst for sustainable development and infrastructure consolidation across the UT. He remarked that the window of opportunity is now with SASCI providing us a chance to reimagine and rebuild Jammu and Kashmir with resilience, transparency and innovations, he asserted.

Dulloo reiterated that alignment with the SASCI scheme is not only fiscally prudent but strategically vital for addressing the long-standing infrastructure gaps across key sectors. He directed the departments to adopt a mission-mode approach and submit their proposals to the Finance Department for seeking necessary approvals from Central Government.