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| Proposed central industrial package for J&K merely an eyewash: AOI | | | Early Times Report
JAMMU, Dec 22: An emergency meeting of the Advisory and Executive Committee of Association of Industries Gangyal, Jammu was held today under the chairmanship of Rattan Dogra, President, AOI-Gangyal. The entrepreneurs felt that the entire central industrial package as appeared in the print media appears to be promotional package to attract new industries from outside the State which may or may not prefer to establish their new units in the State, considering the lack of fiscal incentives from State Government, geographical disadvantages and lack of proper developed infrastructure conducive for establishment for new industry. Similar type of incentives as envisaged in the media reporting providing various fiscal incentives equivalent to capital investments are provided even by highly industrially developed states including Gujarat, Maharashtra, Karnataka, Tamil Nadu and Haryana from their own State resources. The proposed package limits the provisions of Central fiscal incentives only for five years as if to limit their total physical contribution within 5 years and that too within the limits of their capital investments which we think will not attract any fresh investment from outside the State.
The proposed package primarily envisages the availability of package till 31-03-2020 only. Entrepreneurs taking into consideration past experience of industrialization in the State feel that even the highly organized and efficient entrepreneurs may find it difficult to conceive, finalize and materialize their units within this shorter span of time thus forcing the prospective entrepreneurs to desist from making huge investments in the State.
Moreover, the package does not contain any attraction for existing local Small / Micro units who are already suffering due to denial of State fiscal incentives which AOI has continuously been demanding.
The entrepreneurs present felt that this package is merely an eyewash to pour salt on the wounds of already suffering Small and Micro industrial sector and requires instead modifications to suit existing / prospective industries. |
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