news details |
|
|
| Flight of capital from the state will be checked effectively:Rather | | Pre-Budget Discussion with Trade, Industry-Jammu | | Early Times Report
JAMMU, Jan 27: The Minister for Finance and Ladakh Affairs, A.R. Rather has said that the State Government, in order to address the concerns of Trade and Industry, as also to safe-guard the revenue interests of the State, will take all possible measures to check the flight of capital due to diversion of trade. The Minister has assured the Trade and Industry that violation of guidelines by some States, in this regard, will be forcefully put before the Empowered Committee of State Finance Ministers in its forthcoming meeting.
"Diversion of trade from our State, due to variation in VAT rates on certain commodities vis-à-vis the rates in the neighboring States, will not be allowed, as it leads to loss of revenue to our State, besides hampering the interests of the trade and Industry", Rather said adding that Violation of guidelines in this regard by the neighboring States shall emphatically be brought to the notice of the Empowered Committee of State Finance Ministers.
Rather was responding to the pleas of the members of the Trade and Industry during the course of pre-budget discussions which started at Jammu today. Responding to the issue of unemployment raised during Pre- Budget discussions Rathersaid that self-employment and entrepreneurship development has been given thrust, in the first of its kind employment policy, SKEWPY adding that the availability of money shall be no constraint in this regard.
After a series of meetings in the Kashmir Valley for the last three days, Rather today met Chamber of Commerce & Industry Jammu, Industrial Associations of IGC Samba, Gangyal, Bari Brhamana, and Kathua, Traders and Retailers Federation, Jammu and Hoteliers Association, Jammu Observing that holding pre-budget discussions with the cross section of people, including trade and Industry, have proved very fruitful as it serves the twin purpose of having an insight into the view points of the stake holders, their genuine feeling and problems as well as improving the shortcomings, if any, at the administrative level, Rather said that the basic objective behind this exercise was to involve the people in formulating a people friendly vision document, detailing the political, economic and social priorities of the Government for the coming year for ensuring better growth, well being and all round development of the people of the State. He said that these interactions with the stakeholders also facilitate to evolve better policies for the progress of our economy and the strategy to strengthen it further within the available resources.
He said, all the useful, beneficial and realistic suggestions at the pre-budget sessions would be considered on merits while preparing the next year's annual budget. The main issues and concerns raised by the members of trade and Industry included VAT exemption on Packing material of walnuts, almonds and its kernels, bringing convas cloth tarpal, CFL (energy savers) in Zero% tax category, revision in the stamp duty, formulation of a Trade policy, continuation VAT remission to the Industry, VAT remission to Oil Industry, Tax holiday for tourism Industry, transfer of Land leased out to the unit holders in different Industrial Estates under Roshni Act. etc.
President Industrial Association, Bari Brhamana Suri, President, Industrial Association, Gangyal, T.S. Reen, President Industrial Association, Kathua, Davinder Verma, President Industrial Association, Samba, Rishi, president, Traders and Retailers Federation, Jammu Yashpaul Gupta and President Hoteliers Associations, Jammu Inderjeet Khajuria presented charters of demands highlighting various issues pertaining to the concerned fields.
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| |
|
|
|
|
 |
|
|
|
|
STOCK UPDATE |
|
|
 |
| BSE
Sensex |
 |
| NSE
Nifty |
|
|
| |
CRICKET UPDATE |
|
|
|
|
| |
| |
|
|
| |
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
