Jammu, 09th.Dec.2024: Sh. Virendra Jain, President, Association of Industries (REGD.) Gangyal, Jammu, has wholeheartedly thanks Hon’ble Lieutenant Governor, Sh. Manoj Sinhaji for having initiated move to have recommended before Hon’ble Prime Minister, Hon’ble Home Minister,, and DPIIT to seek enhancement in funds allocation from Rs. 28400 crores to Rs. 75000 crores to be able to accommodate uncovered and under process proposals for promoting establishment of new enterprises aimed at the creation of substantial employment opportunities in Jammu. AOI requests the Govt. to accommodate the local micro/small existing industry out of the 75000 crore and dedicated funds for the Micro/Small existing industry be provided under the package.
Sh. Virendra Jain has further thanked Hon’ble Lieutenant Governor Sh. Manoj Sinhaji, Hon’ble Chief Minister Jenab Omar Abdullah, and Hon’ble Deputy Chief Minister Sh. Surinder Choudhary for considering giving due priority to the rapid industrialization of J&K through their intervention in the matter as important source for creation of fresh employment opportunities. Sh. Virendra Jain has fully appreciated the beneficial role played by the worthy Commissioner/Secretary, Industries & Commerce Department, Sh. Vikranjit Singh (IAS), Director, Industries & Commerce, Dr. Arun Manhas, Managing Director, JKTPO, Sh. Khalid Jahangir, and Managing Director, SICOP/SIDCO, Sh. Inderjeet, in the matter. Sh. Virendra Jain has also sought due extensions wherever required to facilitate the completion of these projects.
Sh. Virendra Jain has further emphasized that in addition to the establishment of new enterprises, equal impetus to the survival and welfare of existing local micro/small units is also a need of the hour. J&K units before the shifting to GST Regime were provided fiscal incentives to the extent of Rs.1750 to 1800 crore on account of VAT Remission, Toll Tax exemptions, interest intervention, CST exemption of outside sale, etc. which have been curtailed drastically to almost negligible upto Rs.500 crore with unwarranted capping and interventions. AOI requests the authorities to extend the fiscal incentives to the existing micro/small industrial units that are on par with the new units so as to save the existing industrial sector.
AOI also impresses upon J&K Govt. and all its functionaries specifically entrusted with the development, promotion, and protection of industries in J&K to include providing all fiscal incentives to local micro/small units at par with upcoming units as envisaged in the NCSS scheme of the Govt. of India presently under implementation so as to avoid any disadvantage to existing local micro/small units through funding from the Govt. of India and/or State Govt. and include turnover incentives in the scheme for existing MSME industries.
AOI further draws the attention of J&K Govt. to accord at least 25% reservation of total land allotments to local entrepreneurs for setting up the micro/small industrial units on priority as a salient feature of the industrial policy.