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Jammu and Kashmir Infrastructure Development Finance Corporation

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Jammu and Kashmir Infrastructure Development Finance Corporation
AbbreviationJKIDFC
Formation2018; 6 years ago (2018)
TypeRegistered corporation under the Companies Act
HeadquartersJammu and Kashmir, India
Chairperson
Arun Kumar Mehta(IAS)
Websitehttps://www.jkidfc.in/

Jammu and Kashmir Infrastructure Development Finance Corporation (JKIDFC) Limited was formed in 2018 to speed-up pending, unfunded or languishing infrastructure development projects in Jammu and Kashmir. JKIDFC is a registered corporation under the Companies Act that is mandated to raise funds up to ₹8,000 crore (equivalent to ₹94 billion or US$1.1 billion in 2023), which are guaranteed by the state government, for funding infrastructure development in Jammu and Kashmir.[1][2][3] Some of the projects which JKIDFC is undertaking have been pending for 25 years old.[3]

On 9 August 2020, it was announced the that "over 600 projects of immense public importance", projects which had been left languishing for up to 25 years, had been completed. These projects include extension/construction/widening of roads, bridges, water supply schemes and flats. Other major projects included development of industrial estates, healthcare infrastructure, entrepreneurship development institutes, sports infrastructure, education infrastructure and hand pumps across the region.[4][5][6] In financial year 2019–20, over 1200 projects worth ₹2,280 crore (equivalent to ₹27 billion or US$320 million in 2023) were financed under JKIDFC.[7]

References

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  1. ^ "J&K to raise Rs 8,000 cr loans for funding infra projects". Business Standard India. PTI. 2019-01-17. Retrieved 2020-08-13.
  2. ^ Singh, Vijaita (2020-07-29). "No new government jobs in J&K a year after Article 370 move". The Hindu. ISSN 0971-751X. Retrieved 2020-08-13.
  3. ^ a b "Languishing projects become animated". Daily Excelsior. 2020-08-13. Retrieved 2020-08-13.
  4. ^ "Over 600 languishing projects of much public importance completed in J&K". Daily Excelsior. 2020-08-09. Retrieved 2020-08-13.
  5. ^ "Sports infrastructure of over Rs 400 cr coming up across Jammu and Kashmir". Voice of Valley. 2020-02-08. Retrieved 2020-08-13.
  6. ^ Sharma, Vikas (24 June 2019). "New mechanism to monitor incomplete education projects". Tribuneindia News Service. Retrieved 2020-08-13.
  7. ^ "2280 crore rupees projects financed under JKIDFC in this financial year in J&K". www.newsonair.com. 28 January 2020. Retrieved 2020-08-13.

Further reading

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