Excelsior Correspondent
JAMMU, June 7: An executive committee meeting of the Bari Brahmana Industries Association was held under the chairmanship of BBIA president Lalit Mahajan to discuss the part payment of Turnover Incentives Claims for the Financial Year 2021-22 released by the Industries Department.
During the course of discussions, the members drew attention of Lt Governor Manoj Sinha towards the release of part payment of 8 to 10 percent of the Budget allocation of Rs 50 crores to some Industrial units of Jammu province in the Month of May 2024 against the claims of Rs 176 crores of Turnover Incentives submitted for the Financial Year 2021-22 resulting great resentment amongst the working Industrial Units.
As the allocated amount of Rs 50 crores has been reduced to 8 to 10 percent of the claimed amount, it means approximately Rs 14 crores have been released against the budget allocation of Rs 50 crores which means that the balance amount of Rs 36 crores earmarked for Turnover Incentive has been diverted for some other work by Industries Department, they said.
“It is unjustified that the Govt has withdrawn budgetary support to Industrial Units under SRO No. 431 as Turnover Incentives as per Industrial Policy 2021 resulting a setback of approx Rs 150 crores to existing working units established in J&K State since long and working in spite of all the odds like limited market avenues, locational disadvantages resulting higher cost of raw materials and the stiff competition from the units located in the neighboring states and providing direct/ indirect employment to around four lakh people of the State.
“We request Lt Governor Manoj Sinha for immediate intervention into the matter for the release of amount allocated for the Turnover Incentive to Industries Department to clear all the pending Turnover Incentive Claims for the Financial year 2021-22 and 2022-23,” said BBIA.
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