FOIJ expresses anguish over exclusion from pre-budget consultations in J&K

• Budget without industry voice unacceptable: FOIJ to J&K Govt

Jammu, 22-01-2026: In an emergency meeting largely attended by representatives of all sections of the industries of Jammu Province, chaired by Sh. Virendra Jain, Chairman, and attended by Co-Chairmen S/Sh. Jitender Aul, Lalit Mahajan, S.C. Dutta, Ajit Bawa, Viraaj Malhotra, Secretary General, Sanjay Langar, Convenor, Federation of Industries, Jammu, expressed utmost resentment and anguish for not being associated with the local industrial sector in seeking their proposals for the finalization of the J&K Budget for the next financial year.

FOIJ has failed to understand the reason behind this unwarranted move, resulting the decades old tradition of holding pre-budget meetings to highlight the important issues pertaining to the existing industry and aimed at the creation of employment opportunities through the establishment and growth of industries both in the manufacturing and service sectors. Pertinently, FOIJ had submitted the mutually beneficial proposals during the previous financial year when the popular Govt. had assumed the charge. FOIJ still awaits the implementation of its previous proposals in a true sense.

FOIJ takes the opportunity to draw the attention of the Hon’ble Lt. Governor Sh. Manoj Sinhaji, Hon’ble Chief Minister, Jenab Omar Abdullahji and Deputy Chief Minister Sh. Surinder Kumar Chowdhary to expeditiously consider to improve the procurement procedure as the current procedure through Gem Portal as adversely impacted the near total strength of local industries specially in Micro/ Small sectors back to the previous method of procurement through SICOP to save local units from extinction and protect huge investment from turning NPA’s. Admittedly, local micro/small units located at the far end of the country, particularly in entirely landlocked states, are unable to compete with industries located in other parts of the country that have better infrastructural facilities, as well as access to skilled/unskilled manpower, raw materials, and large consumer strength.

FOIJ also consider it pertinent to seek the favourable consideration of the concerned authorities to address the most genuine demand of the local industrial sector viz;

(1)   Allocation of at least 1% of total Budget estimate towards the reimbursement of Fiscal Incentives including Turnover, Working Capital Interest Subvention Schemes, SGST etc.

(2)  Freezing of Power Tariff for at least next five years including Power Intensive Units in view of their ability to provide large scale employment avenues. Earliest revocation of the revised Power Tariff for Power Intensive Units.

(3)  Extension of Power Amnesty to industrial sector having suffered during the extended period of Corona Epidemic and other calamities.

(4)  Conversion of Lease Hold Industrial plots to Free Hold status.

(5)  Reimbursement of Mandi Tax imposed by the Punjab Govt. on the procurement of wheat by the industrial units of J&K.

(6)  Amendment in S.O. 70,71,72 to provide reimbursement of SGST who could not file returns in time.

(7)  Grant of funds to J&K SIDCO/SICOP for upgradation and maintenance of industrial estates.

We are confident that the timely provision of these fiscal incentives will play a pivotal role in ensuring the survival and growth of Existing Industries in Jammu and Kashmir. By fostering a conducive Environment for these industries to thrive, the incentives will not only enhance their operational efficiency but also significantly boost their capacity to contribute to the region’s economic development. Moreover, this initiative is expected to create approximately 200,000 additional Employment opportunities, providing much needed livelihood options for the unemployed youth of Jammu and Kashmir. This will not only address the pressing issue of unemployment but also empower the local workforce, thereby fostering socio-economic stability and inclusive growth in the region.