news details |
|
|
| Industrial growth not by incentives only | | | In a bid to give a push to the industrial growth in Jammu and Kashmir the Government of India has added yet another incentive for the industrial enterpreneurs.Under the modified scheme the central capital investment on plant and machinery has been raised from 15 per cent to 30 per cent.The new rules provide for capital investment subsidy for the micro,small and medium enterprises units having been increased to 30 per cent of the investment on plant and machinery.In addition to this the industrial enterpreneurs are elligible for claiming subsidy for expansion not exceeding Rs.10 crores for manufacturing sector and Rs.five crores for service sector.It is part of the package announced for the industrial sector in Jammu and Kashmir in 2002.In addition to this the new enterpreneurs are entitled to 100 per cent exemption on excise duty and income tax and three per cent interest subsidy on working capital.During the last four years the state Government has
been after the centre for not only restoring the package of incentives but for introducing other concessions also so that besides the local enterpreneurs industrial houses from outside the state also started investing in the industrial sector in Jammu and Kashmir in a big way
Will these incentives enocurage the local and the nonlocal enterpreneurs for setting up small and medium units in Jammu and Kashmir ?This is the main question that bothers the unemployed educated youth besides the state Government.Package of incentives can be a driving force for ensuring enhanced growth in the industrial sector.However,the industrial scenario in Jammu and Kashmir has
remained quite different from other states in India.The reason being unfavourable security conditions and the working of those Government agencies that are engaged in clearing the projects and in assisting the new enterpreneurs in establishing the industries.In additon to this,the problem of power shortage too has prevented many an industrialits from installing their units in Jammu and Kashmir.There are instances where even those wishing to set up small units in the state had been forced by various Government agencies to pay heavy sums of money while securing clearance from the pollution control Board,from the PDD and other agencies.There are instances of red tape,inordinate delays in the movement of files from one table to another from one department to another.
All these problems have been instrumental for tardy growth in the industrial sector.Well industrialists neither have time nor patience for bearing with red tape and corrupt practices being resorted to by men who matter in the departments of Industries,SIDCO,pollution control Board and allied Government agencies.Industrialists from outside the state have to undergo a rigorous drill for securing no objection certificates and for getting the land on lease for setting up the units.In fact some of the major concessions were there for industrial enterpreneurs in Jammu and Kashmir but there has been a very meagre investment in the industrial sector in the state during the last seven years.Reports say that against an investment of Rs.70,000 to Rs.80,000 crores in the industrial sector in Himachal and Uttrakhand states the state of Jammu and Kashmir has witnessed an investment of the tune of Rs.3,000 crores to Rs.5000 crores. Hence the state
Government needs to initiate measures so that the very work culture in the Government agencies connected with the industrial sector needs to be changed and overhauled.The Government should fully implement the single window system so that anyone eager to set up an industrial unit was able to get clearance in one go.Besides this an action plan needs to be introduced so that those interested in gulping down the incentives by establishing fake units were penalised.In addition to this the Government needs to take steps for guranteeing market cover for the industrial products. |
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
|
|
|
|
 |
|
|
|
|
STOCK UPDATE |
|
|
 |
| BSE
Sensex |
 |
| NSE
Nifty |
|
|
| |
CRICKET UPDATE |
|
|
|
|
| |
| |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
