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| J&K growing @ 44% | | | Early Times Reporter
Jammu | June 23
Due to strict financial discipline and proper taxation system, Jammu And Kashmir State has registered a growth rate of 44 per cent against 24.4 per cent in other states of the country.
This was informed at a meeting of Empowered Committee of State Finance Ministers held at Srinagar. J&K Finance Minister Tariq Hameed Karra is a member of the committee of which West Bengal Finance Minister Asim Dasgupta is the chairman.
The committee was informed that due to strict adherence to centralized taxation system Jammu and Kashmir has a registered a growth rate of 44%. The Empowered Committee which is studying the taxation regimes and other matters pertaining to states’ finances and economy has been urged by the Jammu and Kashmir Government to consider proposals for more tax rebates following rise in the petroleum prices.
The Chairman of the Empowered Committee Dasguptaa appreciated the endeavours of Jammu and Kashmir state for registering 44% growth rate against 24.4 percent in other states. He said the state has emerged as the foremost to implement the VAT successfully despite difficult situation due to two decade long disturbances. He also lauded the state for introducing computerization of VAT system.
Earlier today the three-day 6th empowered committee meeting of State Finance Ministers concluded at SKICC in Srinagar. The second Session of the meeting discussed threadbare various issues relating to implementation of VAT regime and the annual growth rate registered by different states. The Finance Ministers of various states attended the concluding meeting.
Jammu and Kashmir Finance Minister Mr. Tariq Hamid Karra played the host. Chairman Empowered Committee Mr. Asim K Dasgupta who was flanked by Finance Ministers of other states briefed the press about the deliberations. He said that the meeting was fruitful and various issues were discussed.
The Chairman said that the concluding session of empower committee meeting also formed a committee to look into several issues like deviations in the collection of VAT, the committee will present its report within two months, he added.
Dasgupta said that the proposals putforth by the State Finance Ministers would be shared with Government of India before giving them final shape. He also made mention of specific issues relating to Jammu and Kashmir state including sales tax exemption to the traders of Ladakh. He also assured that sympathetic view would also be taken viz-a-viz tax rebate to J&K state owing to the hike of prices of commodities of petroleum products in the country.
Dasgupta thanked the host J&K state for hospitability to the visitors attending the meeting. |
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