Jammu, 25-03-2023: Federation of Industries Jammu requests the Hon’ble Lt. Governor for his kind intervention for the Enhancement in Budgetary Allocation for the Reimbursement of Turnover Incentives to Existing Working Industrial Units for the current Financial Year.
While highlighting the issue, Sh. Lalit Mahajan Chairman Federation of Industries Jammu & President Bari Brahmana Industries Association draws the kind attention of the Hon’ble Lt. Governor towards the Govt. Order No- 117-Ind of 2021 dated 19-04-2021 Clause No. 4.8 Turnover Invectives with Clause No 4.8.3, the annual overall Budgetary provision with a capping of Rs. 50 Crores per annum against which the Turnover Incentives Claims for the Financial Year ending 31-03-2022 submitted by the Existing Industrial Units as on 31-12-2022 amounting to Rs. Approx. 200 Crores to Industries Department for Jammu and Kashmir Division.
It is pertinent to mention here that the Turnover Incentives were given to Existing Industrial Units as per the Industrial Policy 2021-30 to provide relief to the Units Holders who suffered due to abolish of Toll Tax w.e.f 01-01-2020 to meet the stiff competition from the outside Suppliers and the same has been passed on by the Existing Units to the consumers accordingly during the current Financial year.
It is worthwhile to mention here that it was assured to us by the then Principal Secretary, Industries & Commerce Department, Sh. Ranjan Prakash Thakur (IRTS) during our meeting, that since we did not know the exact amount required for Turnover Incentives for reimbursement & the Govt. put Rs. 50 Crores as the provisional Budget in the Industrial Policy, and the amount of for Turnover Incentives for reimbursement will be revised in the budgetary allocation in due course on the basis of actual Claims received during each Financial year. The matter was discussed with Sh. Arun Kumar Mehta during our last visit to Srinagar on 19-03-2022 and a request was made to enhance the Budgetary Allocation from Rs.50 Crores to Rs. 200 Crores for the settlement of pending Turnover Reimbursement Claims for the Financial Year 2021-22.
We request your good self to for your kind intervention into the matter for the allocation of additional Budgetary Support of Rs.150 Crores by the Finance Department to the Industries & Commerce Department during the current Financial Year enabling Industries Department the settlement of Turnover Incentive Claims for the period ending 01-04-2021 to 31-03-2022 which will provide great relief to the Existing Industrial Units.
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