Early Times Report
JAMMU, Mar 7: The Federation of Industries Jammu (FOIJ) has expressed strong resentment over the recently announced J&K Budget 2025-26, terming it "anti-existing industry." In an emergency meeting held under the chairmanship of Lalit Mahajan at AOI Bhawan, Gangyal, industrial representatives from various associations voiced their disappointment over the neglect of existing industrial units in the budget.
The members criticized the allocation of ?130 crore for turnover incentives and other state industrial subsidies, calling it insufficient to meet the sector's needs. Despite prior discussions with Chief Minister Omar Abdullah, who had assured support for the industrial sector, the budget has failed to address key concerns, they stated.
While FOIJ welcomed the implementation of the New Industrial Policy, including marketing support for MSME units, they urged the government to increase the budget allocation for turnover incentives based on claims from the financial year 2023-24 to safeguard existing industries in J&K. |
