Early Times Report
Jammu, May 31:The Jammu Chamber of Commerce and Industry on Tuesday termed the budget as anti-trade and anti-poor and threatened an indefinite bandh starting from Saturday June 4 if the state government did not roll back the increase in VAT and toll rates.
"We demand complete roll back of VAT increase. Trade can't survive with highest tax rates being imposed as compared to rest of India. The Chamber has convened a meeting of all business associations tomorrow and has no option left but to call for a complete bandh, which may lead to indefinite bandh starting from Saturday June 4, if the state government does not roll back the increase in VAT and toll," it said after a meeting at Chamber House to analyse the budget. "There is no comprehensive industrial policy that will help the existing industry and in absence of which no new industries will come up," it added. In a sharp contrast to the statement of Jammu and Kashmir Finance Minister Haseeb Drabu that the budget had been formulated as a tribute to Mufti Mohammed Sayeed, the trade and industry leaders said that the government has in fact forgotten the vision of Late Mufti Mohamad Sayeed and had gone totally against his "Healing Touch Policy".
In his budget presentation Drabu had said that he had attempted to put the "Mufti Model of Governance" in the budget framework.
Rakesh Gupta, President, Chamber of Commerce and Industries, Jammu, said as the president of CCI, I am quite disappointed with the budget. Our main demand from this year's budget was rationalisation of taxes which has not been done. Little relief has been given in health and entertainment sectors getting tax exemption but the finance minister has neglected industries completely. Mushtaq Wani, President, Chamber of Commerce and Industries, Kashmir, said, "I have gone through the budget highlights and noticed that nothing new has been done. I had raised certain demands with the finance minister in the pre-budget meeting but those were not taken into consideration".
Anil Suri, Ex-President, Bari Brahmana Industrial Association, Jammu, said, "Nothing new has been done for industries in this budget, and that has left me disappointed. I will call it more of a continuation of last year's budget." |
