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| Budget inspire almost all except trade, industry | | | Early Times Report
Jammu, Aug 11: A day after Finance Minister Abdul Rahim Rather presented a path-breaking annual budget, in addition to the opposition parties, the trade and industrial sector appears to be the only disappointed constituency amidst a vast majority jubilant over thrust on social and infrastructure sectors.
An economist, Prof AN Sadhu finds positive reflections in the budget by way of hike in allocations for agriculture and allied activities. Regarding announcement of giving 15000 jobs to displaced community, it is a welcome step, but it should not go the way, like PM’s employment package. Otherwise it will be termed as a joke with the Kashmiri Pandits.
The Jammu Chamber of Commerce and Industry though hails the thrust on Agriculture but finds enough reasons for disappointment.
Rajinder Motial secretary general CCI said had our suggestion been given due consideration the state revenue would have received a tremendous boost. About negative list we had forwarded logical suggestions but the same have not received favourable consideration. We had also mentioned about the adverse impact of the dilution of Central package with regard to the Excise Policy and also the problem being faced by the traders for carrying on the smooth trade across the border. Nothing has been suggested in the budget speech in this direction, he pointed out.
‘We appreciate the Finance Minister’s proposal for creating standing forum for looking into the problems connected with various procedures, processes and regulation as faced by the trade and industry and finding their solutions’ he said He said the introduction of scheme for one time settlement of cases by the state financial corporation for transporters and other borrowers is also a welcome step. Finance Minister’s intention of transparency and good governance is likely to yield desired results in future, he added.
Prof. Noor Ahmad Baba of Kashmir University says that Rather’s budget has come as a balancing act between demand and supply. It is a positive budget in right direction given good initiatives to private sector and industry. After a long time, such kind of budget has been presented. Inspite of little resources, finance minister has done a remarkable job.
Mubeen Shah, president, Kashmir Chamber of Commerce and Industry, termed 2009-10 budget as forward looking and said that the initiatives announced in the budget are important for economic development of the stat. He further said that it is for the first time state has recognized private sector as a partner of development of state.
Initiative of investment in insurance scheme especially for tourism industry will give a boost to this sector. The only problem is that finance minister has not given any fund allocation.
A PDP spokesman said that the failure of the government to announce unemployment allowance for the thousands of educated youth after creating media hype about it has exposed government’s callous attitude. Similarly government had failed to introduce any employment generation scheme and tried to pedal normal recruitment to government jobs as a mercy on the people, he added.
He said that the PDP feels that the budget is directionless and un-inspiring. No relief has been given to the already suffering common man of the state and it had pricked the balloon of the coalition government which had made tall claims.
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