Incentives for J&K Industries

To arrest comparative decline in industrial growth and slow down in Jammu and Kashmir state , resulting in lower opportunities of generation of employment, the Industrial owners of the state desire that requisite funds be earmarked in the Budget for the fiscal year of 2019-20 which would result in more incentives and concessions to them. Bari Brahmana Industrial Association , Jammu in a meeting a few days back, have made such a demand and even requested for the intervention of the Prime Minister in the matter .
While there is the imperative need of considering the demand of the entrepreneurs so as to have more ease for them to bring about improvement in the figures of output and production, the other reasons responsible for the slowdown too need to be looked into preferably by an expert committee at on random basis to arrive at a common impediment in growth or many of such problems . The current fiscal incentives are felt by the entrepreneurs to be inadequate in comparison to pre GST Regime not only for the existing units but for the new units the same stands diluted and linked with plant and machinery only. The anomalies must be set right, is the general feeling of the industrial unit holders. Some big projects too need to be set up in the state especially in Jammu to provide a cushion to many units in selling their produce and create scope for setting up of ancillary units.