Excelsior Correspondent
JAMMU, Nov 29: Bari Brahmana Industries Association has urged upon the Government to save existing Industrial units in J&K from closure.
An Executive Committee meeting of the BBIA was held here today under the presidentship of Lalit Mahajan in the presence of Tarun Singla senior vice president, Rajesh Jain secretary, Rishi Kant Gupta treasurer and other members to discuss the plight of existing working Industrial units of Jammu and Kashmir suffering badly and reached on the verge of closure due dilution of fiscal incentives after the abrogation of Article 370. It has mainly happened due to the gross negligence and apathetic approach of the UT Government.
The members raised the serious concern towards the ailing existing working units of Jammu & Kashmir due to negative attitude of UT administration with the dilution of state fiscal incentives in-spite of the facts that facing locational disadvantage, militancy since 1990, hostile business environment and limited marketing avenues.
BBIA invited the attention of Prime Minister Modi, Home Minister Amit Shah, Lt Governor Manoj Sinha and Chief Minister Omar Abdullah and sought their intervention. The Association sought the support to existing Industrial units and new units with the grant of Central/State fiscal incentives,
It is pertinent to mention here that in post Article 370 regime, the State/Central Fiscal Incentive has been reduced to nearly Rs 500 crores from Rs 1800 crores per annum due to negative attitude of UT administration and in respect of Central Package of incentives 2021 Govt of India has Notified Central Package of incentive as per NCSS-2021 Industrial Development Scheme with the grant of Rs 28400 crores Fiscal Incentive out of which Rs 582 crores has been allocated for the existing units on the recommendation of UT administration which is equivalent to mere 2% of the Central Package. The matter is needed to be reviewed.
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