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| CCI president welcomes budget, seeks clarity on industry incentives | | | Early Times Report
JAMMU, Mar 8: While reacting on the budget presented by Hon'ble Chief Minister Jenab Omar Abdullah who also holds the charge of Finance Minister, Sh. Arun Gupta, President Chamber of Commerce & Industry welcomed the budget which includes every sector i.e Education, Sports, strengthening of power sector, 10 kg free ration per person to all AAY families, exemption of Stamp duty for gift transactions in blood relation enhancing financial assistance under marriage assistance program for poor girls of AAY families, development of high performance training centers in all districts to promote supports, promotion of films production in J&K, Development of 46 new Industrial estates in UT of J&K and construction of labour sarai in each industrial estates.
Sh. Arun Gupta also welcomed the announcement of providing 200 units free electricity to all AAY families, but at the same time he said that this burden should not be transferred on the shoulders of the common consumers by hiking the power tariff.
Sh. Arun Gupta said that the Hon'ble Chief Minister knows very well that the existing industry cannot survive without incentives.
He also said that the government has proposed 130 crore for turnover incentives / subsidy component to the existing industry for those who shall be eligible to get subsidy on certain government schemes. Sh. Arun Gupta said that in the past the government has announced turnover incentives to the existing industrial units but the industrial units have not got the full amount of announced incentives (Budgetary Support). Now the government has proposed turnover incentive to the existing industry but this needs to be clarified that how much amount has been earmarked for the turnover incentives.
Sh. Arun Gupta further expressed that while recognizing the concerns of the traders regarding challenges on the GEM platform including increased competition, the government has assured to bring a new policy to provide price preference to local MSME units in public procurement which will definitely create a more level playing field for J&K based business to grow and compete. He requested the Hon'ble Chief Minister that before finalizing the same stakeholders should be taken in the confidence.
Sh. Arun Gupta said that the Hon'ble Chief Minister has on many occasions affirmed his government's commitment to promote the religious tourism in Jammu and he has outlined a series of initiatives aimed at boosting tourism, strengthening the economy and improving infrastructure. He has said that it is our commitment to divert the pilgrims of Shree Mata Vaishno Devi after paying obeisance to other pilgrimage destinations of Jammu. Sh. Arun Gupta said that there is urgent need to develop the tourist circuit where these pilgrims can move to take the blessing of Lord Shiva.
Sh. Arun Gupta also welcomed the modernization of the Kala Kendra Jammu, he requested that the Abhinav Theatre opp. Science College Canal Road Jammu should also be developed/upgraded on modern lines to give it a better look.
Sh. Arun Gupta appealed to the Hon'ble Chief Minister to ensure that the proposed incentives and subsidies reach the intended beneficiaries promptly and without bureaucratic delays. He urged the government to adopt a proactive approach in addressing the concerns of the business community and the common people, emphasizing that effective implementation of the budget proposals is crucial for the overall economic growth of Jammu and Kashmir. He also expressed hope that the government would continue to engage with industry stakeholders to foster a business-friendly environment in the Union Territory. |
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