Fiscal incentives to J&K UT should cover all sectors: JCS

Excelsior Correspondent
JAMMU, Sept 22: The organising committee of the Jammu Civil Society (JCS) has stressed that Fiscal incentives in the shape of Income Tax relief and GST exemption for 5 years should cover all sectors including services and trade in J&K Union Territory.
In a meeting of the members of the Jammu Civil Society held here today under the chairmanship of CA Pardeep Gandotra, various suggestions were received and discussed for the revival of tourism, industry, health, education, trade and services sector by the members. It was unanimously resolved to forward the some suggestions to the State Administration and the Union Government on behalf of Jammu Civil Society.
It was suggested for the development of new tourism destinations in Jammu province and link them with Katra Vaishnodevi and Amritsar pilgrimage centres. The members suggested for development of hill tourist destinations like Bani-Sarthal, Pancheri-Landhar and Latti-Dudu-Basantgarh.
The Civil Society members also pressed for boosting the industrial sector by setting up of at least one mega manufacturing unit like metro / rail coach factory or setting up of defense production units through private participation under Make in India Initiative of the Prime Minister, digitalization of land records, and introduction of e-stamp papers, introduction of Hindi or English language for revenue records in Jammu province, ownership rights for commercial land to outsiders and grant of permission for purchase of residential land after 10 years stay in J&K, policy for conversion of Industrial land into free hold on payment of token premium to existing industrial units and mandatory purchase by Central Government Undertakings of locally manufactured goods and services and abolition of Toll Tax as it should not co-exist with GST.
It was pointed out by the members that one of the major reasons for bifurcating the erstwhile J&K state into two UTs is the lack of economic and social development in the State. With a 56 per cent share, the service sector and trade constitute most of J&K’s economy. The economic growth of the state has been erratic in the past few years. State GDP growth rate has fluctuated between -3.2 per cent to 17.7 per cent in a matter of just two years, according to RBI data.
Prominent among those present included- Arun Gupta, Vinod Sachdeva, Mohit Oswal, Sahil Mahajan, Rajan Gupta and Pragya Gandotra.


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