FM announces exclusive industrial scheme, privatization of Toll Post

Avtar Bhat
JAMMU, Jan 16: In a major decision to give impetus to industry in the State, Finance Minister, Dr Haseeb Drabu today announced 30 percent capital subsidy for five years for  all new industrial houses in the State granted under the special scheme for J&K State by Central Government.
Making this announcement during his reply while winding up three days discussion on budget in State Assembly today, the Finance Minister said that all new manufacturing and servicing units will get this facility. He also announced three percent Interest subsidy also as a major relief for new industrial units in the State.

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He said for the first time such benefits are given to service sector and also announced 100 percent insurance subsidy under the scheme. The scheme will have two components: 100 percent insurance cover and considering buildings of the hotels as plant machinery thus enabling them to 30 percent capital subsidy. This will be the first post GST scheme that will take care of the new realities in public finances, he added.
Among other “pro people measures,” the Finance Minister announced exemption of Toll on pulses as was demanded by BJP MLA, Sat Sharma.
Allaying the fears of members who had indicated that there were some shortcomings in old age and widow pension, Dr Drabu announced additional Rs 30 crore in the kitty of Social Welfare Department for old age and widow pension. The Department will get Rs 15 crore each for old age and widow pension, he added.
Announcing that the Government will rationalize the Fixed T A for engineers, he said they were getting paltry Rs 30 per month as FTA for last 30 years which is a joke. He also announced enhancement of Refreshment Allowance for Secretariat employees from Rs 7500 to Rs 10,000 for working for additional hours and during Sundays.
Among other measures, Drabu announced inclusion of various areas of the State under Special Duty Allowance for the employees and said that the existing Compensatory and Border Allowance will be streamlined for the employees posted at hard stations in the State.
Besides, he announced inclusion of more hard areas in the said list. He announced  enhancement of Car and Housing Allowance for Legislators from  Rs five lakh to 10 Rs lakh and also gave leverage to members if someone did not availed the car loan facility, he can utilize the amount for availing home loan up to Rs 20 lakh.
He also announced the hike in sitting allowance for Legislators from Rs 2000 to Rs 3000 per sitting.
He also announced providing of Rs 5 crore for interest subversion for business start up ventures by SC/ST entrepreneurs.
Maintaining that the Government will frame a uniform marriage scheme, he announced bringing of the widow daughters under the family pension scheme of parents as was demanded by Sat Sharma.
For Ladakh region, the Finance Minister announced a special duty allowance for employees on the same lines and pattern as Union Government i. e 10 per cent of basic pay. This will apply to all workers who work in the region, he added.
Maintaining that J&K Bank is an autonomous institute, the Finance Minister said that it is totally a public investment company in the State. “It is a private bank for all technical qualifications and hence there should be no interference of the Government in the Bank”, he added.
He said “if the banking is a Central subject and if it is to be debated in the House then we have to approach to Parliament.” He said when he was the Chairman of the Bank  that time too it was an autonomous institute and as a Finance Minister he does not interfere in the working of the Bank. He assured the House that recruitments and transfers in the Bank are made transparently. Terming the JK Bank a “Jewel,” he appealed the members not to debate the issue in the House.
He also announced that the “mafia Raj” at Toll Post Lakhanpur will be eliminated as it will be privatized.
He said toll has been removed on some items and maintained that Toll does not fall under GST. The Finance Minister said that toll has two important values, one is information and record. It reveals that how much has been imported and how much exported. Besides it is a protection for industry which received two shocks demonetization and GST, he added.
Drabu, while referring to concern shown by members on imposing Rs 50 to 60 as Toll Tax on per bag of cement, said that this toll was existing since 1948 and in 2010 it increased to Rs 40. However he assured the House that Government will take a view of the same.
The Finance Minister also announced that the J&K will be first State in the country to have uniform labour law while referring to enhancement of daily wages of the workers to Rs 350 a day and that of skilled worker to Rs 400 a day. The Government will also review Minimum Wages Act after every five years, he added
Refuting the charges of opposition that Government has totally neglected agriculture and Horticulture, the Finance Minister said that Horticulture is also part of agriculture and Government is spending 10 times more on commercial agriculture. He made it clear that only one step can transform the State economy and that is high density horticulture.
The Finance Minister said that the Government is taking every step to boost economy of the State and hence “we decreased revenue expenditure and not the capital expenditure.”
He said earlier Rs 1.50 crore were spent on ‘Mahafiz’ and now 40 crore will be spent. The new decision taken be encouraged by the members.

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