Excelsior Correspondent
JAMMU, Sept 10: Bari Brahmana Industries Association president and Co-Chairman Federation of Industries Jammu, Lalit Mahajan has drawn the attention of the Government towards the uncertainty prevailing in the mind of prospective investors, who have submitted their applications for the setting up of new and existing units under substantial expansion to Industries Department under NCSS-2021 Industrial Development Scheme for J&K, for the grant of additional funds of nearly Rs 40,000 crores for their survival.
While highlighting the issue, Mahajan drew the attention of PM Modi, Amit Shah, Piyush Goyal, LG JKUT and the CM that out of Budgetary allocation of Rs 28400 crores, 67% allocation has been given to 3% large scale units with the approval Registration under NCSS-2021 Scheme whereas only 33% Budgetary allocation has been granted in favour of 97% MSME units resulting great resentment amongst the prospective investors.
He said uncertainty prevails in the mind of nearly 580 Industrial Units holders with the majority of MSME existing units and applied for the setting up of new units or under substantial expansion to meet the stiff competition with the new units and out of which 205 units with majority of the local prospective Investors also include the units under substantial expansion, who have applied on the NCSS Portal well in time for the grant of Registration. BBIA chief said as on date no State Fiscal Incentives like capital investment Subsidy/Interest Subvention and other benefits are available under the State Industrial Policy.
Mahajan said it is the need of the hour that with the grant of relief to leftover 580 units by the enhancement of budgetary allocation under NCSS-2021 Scheme, it will create employment opportunities for lakhs of local youth.
Follow our WhatsApp channel
