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| GST badly affects manufacturing sector alleges BBIA | | |
Early Times Report
Jammu, Dec 7: Bari Brahmana Industries Assocation (BBIA) has alleged that industrial growth in manufacturing sector remained limited post GST implementation.
According to press release, a meeting of BBIA was held under the President ship of Lalit Mahajan in the presence of Tarun Singla, Sr. Vice President, Ajay Langer Vice President, Viraaj Malhotra General Secretary, Rajesh Jain Secretary and Vivek Singhal Treasurer BBIA.
As per the data available with the Association, very Limited Industrial growth reported in last three and half year as only 506 units started the production with the employment to 8231 persons in Jammu province. It is pertinent to mention here that due to dilution of State/Central Package of Incentives in post GST Regime as per the DIPP Scheme JKIDS-2017 and non availability of State Fiscal Incentives for New Units and Units under Substantial expansion, number of investors surrendered the land allotted to them prior to 2017 for the setting up of the Units and shelved their projects. It is worthwhile to mention here that JK is a landlocked state with the limited marketing avenues, hostile conditions since last 30 years, surrounded by China & Pakistan, it is not possible for the Industrial units to survive without the fiscal incentives. "We appreciate the efforts of the State Govt. to attract New Investment in the State in post UT Status in the Industry, Tourism, and Service Sector which includes the Medical, Education and other areas, it is the need of the hour to provide all the Fiscal Incentives at par to the manufacturing Sector also with the inclusion of Hotel Industry with the provision of subsidized Power Tariff as the Manufacturing Sector and the Hotel Industry is the major Employment Provider to the Local Youths of the State and at present provided Employment directly and indirectly to approx Five to Six lacs peoples of the State which is more than the Employment provided by State Govt. at present", the press note added. |
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