Excelsior Correspondent
JAMMU, Nov 24: A delegation of Federation of Industries, Jammu (FoIJ) under the chairmanship of Lalit Mahajan, its co-chairman met Nirmala Sitharaman, Union Finance Minister in the presence of Manoj Sinha, Lt. Governor JKUT and submitted a memorandum of various urgent issues related to the industrial sector of J&K to her.
Lalit Mahajan complimented Prime Minister, Narendra Modi and Union Home Minister for the grant of fiscal incentives for the industrial sector as per the industrial package 2021 by Government of India and industrial fraternity of Jammu & Kashmir termed it as a beginning of new era of development and industrialization and we are hopeful that the industrialization will achieve a new height in the coming days in the UT to provide employment opportunities to the local youths as well as overall growth in the State economy as people are expecting the huge investment in industrial sector of J&K on the basis of Rs. 28,400 crore Central Industrial Package announced by Government of India.
During the course of discussions with the Union Finance Minister, Lalit Mahajan highlighted the various issues related to the industrial sector which includes that existing working industrial units facing serious problem of their survival due to non applicability of Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 to the State of Jammu & Kashmir in respect of exemption under notification No.56/2002-CE dated 13.11.2002 by Union Finance Ministry, denial of 300% reimbursement of Gross GST for the substantial Expansion to the Existing MSME Units as on 31-3-2021 under the Industrial Development Scheme 2021, notified by Ministry of Industries & Commerce, Road Freight Reimbursement to Existing Units for the dispatch of Finished Goods to Domestic Market as well as for Export from Union Territory of Jammu & Kashmir due to higher freight cost of raw materials keeping in mind the locational disadvantages and reduction of GST on the Iron and Non Ferrous Metal Scrap from 18% to 5%.
Nirmala Sitharaman assured the delegation for the early resolution of the issues related to the industrial sector of J&K.
Ajit Bawa co-chairman, Viraaj Malhotra, secretary general, and Gagan Jain Executive Member, Federation of Industries, Jammu also attended the meeting
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