Excelsior Correspondent
JAMMU, Mar 8: While reacting on the budget presented by Chief Minister Omar Abdullah, Arun Gupta, president Chamber of Commerce & Industry welcomed the budget which includes every sector including education, sports, strengthening of power sector and provision of 10 kg free ration per person to all AAY families.
JCCI also mentioned about the other measures and said exemption of Stamp duty for gift transactions in blood relation, enhancing financial assistance under marriage assistance program for poor girls of AAY families, development of high performance training centers in all districts to promote supports, promotion of films production in J&K, development of 46 new Industrial Estates in UT of J&K and construction of Labour Sarai in each Industrial Estates are some welcome initiatives of this Government.
Gupta also welcomed the announcement of providing 200 units free electricity to all AAY families, but at the same time he said that this burden should not be transferred on the shoulders of the common consumers by hiking the power tariff.
He said that the Chief Minister knows very well that the existing industry cannot survive without incentives. The government has proposed Rs 130 crore for turnover incentives / subsidy component to the existing industry for those who shall be eligible to get subsidy on certain government schemes.
Gupta said that in past the government has announced turnover incentives to the existing industrial units but the industrial units have not got the full amount of announced incentives (Budgetary Support). Now the government has proposed turnover incentive to the existing industry but this needs to be clarified that how much amount has been earmarked for the turnover incentives.
JCCI president expressed that while recognizing the concerns of the traders regarding challenges on the GEM platform including increased competition, the government has assured to bring a new policy to provide price preference to local MSME units in public procurement which will definitely create a more level playing field for J&K based business to grow and compete.
He also welcomed the modernization of the Kala Kendra Jammu, and requested that the Abhinav Theatre should also be upgraded on modern lines.
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