Jammu, 01-02-2024 : Smt. Nirmala Sitharaman, Hon’ble Union Minister of Finance presented Union Interim Budget 2024-25 with the allocation of Rs. 37277.74 Crores for Union Territory of Jammu & Kashmir in Parliament today which we termed it as a Industrial Friendly and beneficial for all sections of Society.
While going through the interim Budget proposal, Sh. Lalit Mahajan, President, BBIA welcome the proposals for the speedy Development of all the sector including MSME Sector as well as for the Corporate Sector of the Country with the following Budget announcements:-
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- 7% GDP Growth.
- No Change in the present Direct /Indirect Taxes.
- One Crores House Holds will be enabled to obtain 300 Units of Free Electricity per month under Rooftop Solarization.
- 30 Crore Mudra Yojana loans disbursed to women entrepreneurs.
- Pradhan Mantri Awas Yojana (Grameen) close to achieving target of 3 crore houses, additional 2 crore targeted for next 5 years Housing for Middle Class scheme to be launched to promote middle class to buy/built their own houses.
- Fostering entrepreneurial aspirations of Youth-43 crore loans sanctioned under PM Mudra Yojana
- New scheme of bio-manufacturing and bio-foundry to be launched to support environment friendly alternatives
We request to Hon’ble Prime Minister Sh. Narendra Modi and Hon’ble Union Finance Minister Smt. Nirmala Sitharaman to provide the adequate funds for the Development of Industrial Infrastructure which includes the completion of Industrial Estates in time bound manner in Union Territory of Jammu & Kashmir on priority basis enabling the prospective Entrepreneurs to start the production in time bound manner on the basis of 28,400 Crores Industrial Package approved by Govt. of India for the Industrial Sector of Jammu & Kashmir.
We also request Sh. Manoj Sinha, Hon’ble Lt. Governor, Sh. Atal Dulloo, IAS, Chief Secretary, Union Territory of J&K and Sh. Vikramjit Singh, (IPS),Commissioner/ Secretary, Industries & Commerce Department to provide requisite funds from Funds allocated to J&K in the interim budget with the enhancement the Budget Allocation for Turnover Incentives from 50 Crores to Rs. 210 Crores for the Financial Year 2021-22 and the Budget Estimates for the Financial year 2022-23 onward shall be done on the basis of Actual turnover achieve in each Financial year with the Refund of SGST on the Substantial Expension in respect of Additional items/ change in the line of manufacturing which will encourage the Local MSME Units to enhance their production capacity resulting more Employment Opportunities for local youths.