Shadow Correspondent
Jammu, July, 31:
A Delegation led by Parveen Paragal, General Secretary, Laghu Udyog Bharti Jammu chapter & accompanied by Omprakash Mittal, Past National President Laghu Udyog Bharti, Gagan Jain, & C.S. Jain calls upon Honb’le Minister of State Finance, Govt. of India Anurag Singh Thakur at his office in New Delhi North Block, Finance Ministry & presented memorandum to him stating fiscal incentives J&K State. The Delegation apprised the Hon’ble Minister about the problems being faced by MSME Sector in the state & urges him for the continuation of fiscal incentives as per the previous VAT regime for the state of J&K for MSME. While speaking, Parveen Pargal said that the Centre and State Governments have been providing fiscal incentives to Industry for their growth and sustenance which helped them to offset many disadvantages, primarily owing to its location disadvantage, paucity of skilled labor, limited markets, being flanked by hostile neighbors, mountains in the north / north-east and highly industrialized Punjab in the South and above all hit by disturbed conditions due to militancy and cross border terrorism since last 30years & far away from even ports. He further added that Post-GST the situation for Industry has changed for the worst as the package incentives were abruptly withdrawn (which was live up to March 2020) by the Centre. He added that tall promises were made by the Government prior to the implementation of GST that all incentives/packages as existed prior to GST will be reinstated (in whatever shape) such that Industry is not impacted but Post-GST new incentives have been introduced at par with other Himalayan States by the Central Government for the existing Industries & the package for the new Industries remains withdrawn. He said that these incentives grossly fall short of what was available in Pre-GST as their quantum stands drastically reduced and has resulted in eroding the competitive edge of industry which resulted into extreme difficulty to survive and also no new investment is coming which again resulting into no new jobs creation opportunities. The delegation apprise MOS Finance that Industry is the only area where educated & un-educated youth can be absorbed and also investment from outside the State can be expected. If the package is restored, otherwise there will be mass retrenchment by existing Industry & result in migration of local youth brain drain & flight of capital will be there in the absence of no investment opportunities /avenues. The delegates lastly urge for similar type of package of incentives which was given by Hon’ble Prime Minister Sh. Atal Bihari Vajpayee Ji to our State be extended so that this region will also grow & investor along with work force from outside the state will definitely come to this region which will benefit the Govt. to check the demographic changes in the region also.
Anurag Singh Thakur gave a very patient hearing to the delegation. He added that Our Government headed by Honb’le Prime Minister Sh. Narendra Modi always ready to provide every possible help and assistance for the State of J&K and in regards to the fiscal incentive for the promotion of J&K Industry, we prompt pay attention to help the ailing MSME sector of the state.
