CURRENT AFFAIRS

Detailed explanation-1: -Jammu and Kashmir administration today signed a Memorandum of Understanding (MoU) with the Government of Dubai for real estate development, industrial parks, IT towers, multipurpose towers, logistics, medical college, super specialty hospital and more.

Detailed explanation-2: -All eligible industrial units in the state of Jammu & Kashmir shall be given an interest subsidy to the extent of 3% on the Working Capital advanced to them by the Scheduled Banks or Central/State financial institutions for a maximum period of 10(ten) years from the date of commencement of production.

Detailed explanation-3: -The act re-constituted the former state of Jammu and Kashmir into two union territories, one being Jammu and Kashmir and the other being Ladakh, with effect from 31 October 2019.

Detailed explanation-4: -J&K is famous for its small-scale and cottage industries such as carpet weaving, silks, shawls, basketry, pottery, copper and silverware, papier-mache and walnut wood.