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| FOIJ criticizes Govt for allegedly ignoring industrial sector | | | Early Times Report
Jammu, Sept 8: Federation of Industries Jammu (FOIJ) has criticized the state government, for what they termed as ignorance of industrial sector.
According to press release, the FOIJ members alleged that the working industrial sector has been passing through a crucial stage due to casual attitude of the Govt. in respect of grant of fiscal incentives at par prior to GST Regime resulting slow down of Industrial Production, shifting of Production base by Industrial Units near to the market.
As per the data available with the Federation of Industries Jammu, Industrial Growth declining day by day due to non availability of Central/State Govt. fiscal Incentives due to which very negligible new units registered with Industries Department in last three years as annually only around 200 MSME Units commenced the Production with the Employment of around 1100 persons. The position is more serious as number of Units is in the process of surrendering the Land allotted to them due to non availability of State/Central Fiscal Incentives to new units.
It is pertinent to mention here that present working MSME/Large Scale Units suffering very badly due to delay in the Grant of fiscal Incentives as approved in the State Budget 2018-19 as the files are rolling between Finance and Industries Department in spite of repeated requests and reminders by Federation of Industries, Jammu.
The position is more serious as majority of the Micro & Small Sector mostly owned by sons of the soils on the verge of closer due to non availability of requisite fiscal incentives at par in the VAT Regime which may resulting in to mass scale retrenching of work force due to discrimination in the Grant of Fiscal Incentives by State Govt. to those units Exempted under the Central Excise Regime prior to GST Regime. |
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