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| AOIG welcomes state Govt's initiative for extension of NEIDS | | | | Jammu, Aug 13: Association of Industries Gangyal (AOIG), Jammu has welcomed and appreciated the State Govt.'s initiative to seek Govt. of India interventions towards extension of NEIDS (North-East Industrial Development Scheme) fiscal incentives to equate J&K at par with North-Eastern States to attract fresh investments and provide fresh impetus towards the establishment and growth of industries in J&K. According to press release, they exuded confidence that entire existing micro/small industrial sector does not appear to be provided due consideration towards its survival and/or well being. The State Govt. has yet to fully acknowledge the contributions of local 'sons of the soil' entrepreneurs who are directly providing employment opportunities to atleast 3 lacs employees/workers mostly local in their micro/small industrial units. AOI repeatedly inviting the attention of the State Govt. to restore the competitive edge of the local micro/small sector that existed in VAT regime by way of 100% VAT remission and exemption from Central Excise duty for sales upto Rs. 1.5 crores contrary to the assurances by the State Govt. at various levels have not been accorded due priority to restore competitive edge expeditiously by providing fiscal incentives through budgetary support, they said. |
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