The State Government today issued for implementation of the Healthcare Investment Policy-2019. This follows the State Administrative Council decision taken in this regard on March 08, 2019.
As per the new Health Care Investment Policy, the Government of Jammu & Kashmir will promote and encourage the private parties and entrepreneurs for setting up healthcare infrastructure in the state by providing subsidies and incentives. Accordingly, 30% subsidy on capital investment will be provided for setting up of multi-speciality Hospitals, Super Specialty Hospitals, Medical Colleges, Nursing Colleges and Paramedical Colleges.
Interest subsidy shall be provided @ 5% per annum on term loan subject to a ceiling of Rs 15 lakh per year for a period of five years from the date of operationalization of the project. Also, the subsidized power tariff rates shall apply as applicable to Industries Sector. 100 % subsidy on purchase and installation of DG sets with an upper ceiling of Rs 45 lakh.
For availability/allotment of land, the policy envisages, State Government shall through the J&K SIDCO and J&K SICOP as facilitators create the land bank and allot the land on the premium rates as applicable under Industrial Policy 2016.
Further, as per the Policy, one-time subsidy up to 25% of the cost incurred on imparting training to the Nurses and Paramedical staff will be provided by the State Govt. Moreover, a single window clearance mechanism shall be adopted for processing the project proposals with final approval to be accorded by Apex Level Project Clearance Committee (ALPCC).
The State Government, as per the policy, may declare a well-defined geographical area having potential and being conducive for development as Medical City to promote medical tourism in the State.