*Making PSUs independent of Govt control good move: KCCI
Excelsior Correspondent
JAMMU, Jan 11: The State Budget presented by the Finance Minister, Dr Haseeb Drabu in the J&K Legislature today has evoked positive response with trade and industrial bodies having many words of appreciation for the State Government.
The Kashmir Chamber of Commerce and Industry (KCCI), while reacting to the Budget speech of the Finance Minister said that the Budget announcement made by Dr Drabu is encouraging to a large extent in certain sectors provided implementation is done for all the promises made.
KCCI president, Javed Ahmed Tenga in his response to the Budget, appreciated the focus in the initial part of FM’s speech regarding PSUs which are important for development by infusion of capital and professionalizing these PSUs with removal of all politicians and bureaucrats from their Boards to make them autonomous and independent of the Government control.
Referring to the expectation of the MSME sector for the CGST & SGST for refund as previously enjoyed by them and restricting it to only value added part, Tenga said it was not acceptable to the industry. He, however, appreciated inclusion of tourism industry (hotel, resorts etc), in power tariff concession category at par with industry.
” With regard to subsidizing 1/3rd interest post-flood contrary to our demand for refund of full interest, we demand other 2/3rd be got from the GoI to be followed up vigorously or all these will become NPAs,” Tenga maintained.
KCCI president also lauded the power amnesty to all sectors of industry, seriousness of Finance Minister in reviving the transport sector, setting up of Dry Port to give logistic connection for J&K, the education loan interest intervention, the intervention proposed by Finance Minister in respect of silk industry, bat industry, walnut, national saffron mission, apple industry, CA store, packaging of apple, which will need further improvement in consultation with trade and industrial bodies.
The KCCI also appreciate creation of carpet villages although it is lower than our demand of handicraft villages as there are other handicraft like shawl, crewel, etc which have same potential; inclusion of handicraft units under MSME for all industrial incentives, the fillip given to the trout fishing industry of Kashmir by subsidizing the air freight, focusing on renewable energy.
But unfortunately no venture capital fund has been provided for helping local entrepreneur. The Finance Minister has chosen to take advantage of Section 5 of the J&K Constitution to impose further taxes and in future in different sectors like petroleum, real estate etc, the KCCI president said.
The Jammu Chamber of Commerce & Industry (JCCI) has extended gratitude to the Chief Minister Mehbooba Mufti and Finance Minister Dr Haseeb Drabu for the historic reliefs announced to almost all sectors of business and society. The Chamber feels that it is for the first time that long pending demands of this sector have mostly been addressed. The JCCI president, Rakesh Gupta in his response to State Budget said that the incentives of SGST to industry, freight subsidy, industrial power tariff to hotels, sharing of portion of interest for restructured accounts, one time waiver of soft loans to houseboat owners, amnesty upto VAT period, power amnesty to industries and hotels, amnesty to transport sector in lieu of token tax, common facility centre for cricket bat industry, budgetary provision for improving horticulture sector/ setting up of CA stores, Toll tax exemption on essential commodities, abolition of two Toll posts, abolition of Toll Tax on non-commercial vehicles and abolition of Toll on all fruits produced within the state are big relief to trade, industry and transport.
He further said that the exercise to bring electricity, alcohol, real estate and petroleum under GST shall be a big relief for one and all. Gupta said various provision to help out students, Government employees, provision for disaster management and social schemes are land mark announcements.
Bari Brahmana Industries Association (BBIA) widely appreciated the Budget presented by Dr Drabu in which most of issues related to the industrial sector, as highlighted by BBIA in the Pre-Budget discussions, have been resolved by the Finance Minister.
” We convey our gratitude to the Chief Minister Mehbooba Mufti, Dy Chief Minister Dr Nirmal Singh, Finance Minister Haseeb Drabu and Industries Minister Chander Parkash for providing relief to industrial sector, BBIA president Lalit Mahajan said.
While going through the Budget proposals, Mahajan said it has been observed that the SGST incentive announced by the Govt for the units not covered under the Central package of incentives confined to only value addition which is not sufficient for the survival of existing Small Scale Units working in the State. Moreover, no provision has been provided in the Budget for providing CGST to the Existing Units and SGST/CGST incentive to the units under substantial expansion and new industrial units.
The BBIA further urged upon the State Government to consider some measures for the survival of MSME sector of the State, which include, reimbursement of 5% incentive on turnover and other incentives like reimbursement of Provident Fund, ESI and electricity duty; removal of Negative List of the raw materials used by the industrial units for the manufacturing of finished goods; removal of Negative List for the industrial units in respect of SGST/CGST reimbursement.
Meanwhile, Jammu Press Club has welcomed announcement of Medi-claim insurance policy for the accredited journalists as announced by the Finance Minister today. President of the Club Ashwani Kumar said that Government should extend this facility to all the working journalists and cameramen.
Jammu West Assembly Movement, leader Sunil Dimple has described the State Budget as anti-people, anti-youth and anti-trader of the State. He alleged that there is nothing in the Budget on food security, concessions on ration, sugar, kerosene oil or cooking gas etc. Government has not withdrawn Toll Tax at Lakhanpur.
Meanwhile, Civil Secretariat Non Gazetted Employees Union (CSNGEU) led by its president, Ghulam Rasool called on the Chief Minister, Mehbooba Mufti and thanked her for the pro- employee steps taken in the Budget 2018-19. They expressed gratitude to the Chief Minister for keeping the promise of implementation of 7th Pay Commission recommendations, payment of Dearness Allowance and assurance to resolve the pay anomaly between various cadres.
The CSNGEU deputation also thanked the Government for the historic decision of raising housing facilities for employees at a massive scale and earmarking Rs 500 crore for the purpose. He also lauded Haseeb Drabu for putting his suggestions into concrete initiatives in the Budget.
ALL J&K Patwar Association has lauded the State Budget and termed it as employ-friendly. They appreciated the steps with regard to 2% of land acquisition as administrative expenses, 5 % of the land acquisition in respect of Kahcharai and State land for developing infrastructure of Revenue Deptt and provision of Rs 10 crore for purchasing vehicles for Tehsildars.
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