Excelsior Correspondent
JAMMU, Dec 4: A delegation of Federation of Industries Jammu (FoIJ) under the chairmanship of Lalit Mahajan along with Virendra Jain, SC Dutta, Ajit Bawa, Raman Jolly Co-Chairman, Sanjay Langar- secretary general along with other Executive Committee Members of FoIJ called on Vikramjit Singh, Commissioner/ Secretary, Industries & Commerce Department, at Jammu and highlighted the urgent issues related to existing working Industrial units of Jammu and Kashmir and submitted a detailed representation regarding the problems being faced by local working industrial units.
During meeting Mahajan invited the attention of Vikramjit Singh towards plight of local working Industrial units of J&K suffering very badly due to dilution of fiscal incentives after the abrogation of Article 370 resulting great resentment amongst the owners of working Industrial units providing employment to lakhs of local people of J&K.
It was pointed out that the existing Micro, Small and Medium working Industries in Jammu and Kashmir having an approximate investment of Rs 30000 crores prior to March 31, 2021 mostly owned by sons of the soil, the current financial support in the shape of fiscal incentives provided under the current policy framework is grossly inadequate which is equal to Rs 450 crores per year as SGST refund and a paltry Rs 20-25 crores per annum as turnover incentives. In stark contrast, new industries under the new Central Industrial Package got the whooping allocation of Rs. 3266 crores per annum resulting stiff competition from new Industrial Units setup under NCSS 2021 due to which great resentment amongst the working Micro, Small and Medium Enterprises working in spite of all the odds since long.
Mahajan requested the Commissioner/Secretary, Industries & Commerce Department for providing adequate funds to existing working industrial units at par with Central Package of Incentive for new units.
Vikramjit Singh, listened to the current scenario of the existing working industrial units of J&K patiently and assured that his Govt will provide all sought of hand holding support for the revival of the existing working units of the JKUT.
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