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| JCS reiterates Toll Tax must be abolished | | | Early Times Report
JAMMU, Sept 29: Jammu Civil Society (JCS) members reiterated that the Toll tax must be abolished so that the public gets respite from high prices of essential commodities and construction material.
During a meeting, the members appreciated the efforts made by the organizing committee of JCS in taking up the burning issues like abolition of toll tax so that the public gets respite from high prices of essential commodities and construction material in Jammu and Kashmir.
It was reiterated that one of the major reasons for bifurcating the erstwhile J&K state into two UTs is the lack of economic and social development in the State. With a 56 per cent share, the service sector & trade constitute most of J&K's economy. The economic growth of the state of Jammu and Kashmir has been erratic in the past few years. State GDP growth rate has fluctuated between 3.2 percent to 17.7 percent in a matter of just two years, as per RBI Data. The volatility is common for all major sectors of the economy such as industry, banking, construction, service and trade. With a 56 per cent share, the service sector constitutes most of J&K's economy. Other two major sectors constituting the state economy are industry at 27.8 per cent and agriculture at 16 per cent.
It also states the sector has huge potential for employment generation, even for unskilled manpower. Tourism also caters to the allied sectors like handicrafts, handlooms, and transport. Despite the state's unique and rich culture and heritage assets, the tourism sector accounts for only around 6.98% of the state's GDP.
The erratic growth of Jammu and Kashmir can be attributed to the militancy, poor infrastructure & ill-conceived packages granted in the past. Government should aim at redressing issues that are impeding service, industrialand trade sector growth by offering incentives under income Tax and GST to all sectors including service & trade as they are continuously suffering due to bad law and order situation in J&K. Govt should also ensure access to credit and the market across India to all sectors.
It was unanimously resolved to forward following suggestions on behalf of Jammu Civil Society Gandhi Nagar included Abolition of Toll tax as it cannot co-exist with GST legally. Government may like to compensate the effected industries in the shape of matching incentives so that existing local industry does not suffer, Advisories issued by various countries regarding visit by their national's to J&k should be got withdrawn, Uninterrupted internet connectivity should be ensured so that It / BPO sector can be brought to J&K, Boost to industrial sector by setting up of at least one mega manufacturing unit like metro / rail coach factory or setting up of defense production units through private participation under make in India Initiative of Honorable Prime Minister of India and many more.
Prominent persons were present during meeting included Sat Paul Sharma CA, Pardeep Gandotra, Vinod Sachdeva, Neeraj Anand, Rajesh Jain, Subash Gupta and others. |
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