Excelsior Correspondent
JAMMU, Mar 15: While Bari Brahmana Industries Association (BBIA) has termed the J&K Budget worth Rs 1,12,950 crores presented in the Lok Sabha by the Union Finance Minister , Nirmala Sitharaman as industries friendly, the BJP claimed that the budget will give impetus to the socio-economic transformation in J&K UT.
Bari Brahmana Industries Association president Lalit Mahajan while giving his immediate reactions over the Budget said that the allocation of Rs 1.12 lakh crores to the Union Territory of Jammu & Kashmir with the allocation of Rs 1002 crores for Industry & Commerce Department, giving an increase of Rs 354 crores from the last year budget and Rs 150 crores for the development of New Industrial Estates, will give great boost to the Industry in J&K UT.
Mahajan, who is also Co-Chairman Federation of Industries Jammu further said that in the Budget provisions of 2022-23, Rs 1002 crores has been allocated for the Industry & Commerce Department and we are hopeful that under the said provisions, adequate allocation has been done on the basis of our representations given from time to time for providing relief to existing as well as units under substantial expansion also suffering very badly in post GST regime due to dilution of fiscal incentives, removal of Toll Tax w.e.f. 01-01-2020 and post COVID-19 situation.
The BBIA further requested the Lt Governor Manoj Sinha and Ranjan Prakash Thakur, Principal Secretary Industries & Commerce Department to take prompt initiative for development of New Industrial Estates and allocation of funds for the Power Infra Structure and early completion of Infrastructural work in the new Industrial Estates with the availability of road connectivity, Power infrastructure and other related works in time bound manner so that the prospective investors may start the production in time bound manner.
Meanwhile, spokesperson BJP JK UT and former JCCI president, Y V Sharma complemented Union Finance Minister for allocating highest ever funds in the Budget to JKUT for the year 2022-23 . He said by increasing the allocations by about Rs 400 crores from the budget of last year , Sitharaman has ensured the development of infrastructure in almost all the sectors of economy of the state like security, medical sector, education, agriculture and rural development. The announcement of completing the Railway link from Jammu to Kashmir and starting the projects of metro rails in the twin cities of Srinagar and Jammu are other highlights of the Budget .
He said the economic sector trade, industry, agriculture and horticulture have also been allocated sufficient funds for opening mandies, business centres and industrial units . A sizeable allocation of funds for Panchayats, Local Bodies and Urban Municipal Corporations is also a step in the right direction. Education gets highest allocations of Rs 11832 crore which shows a commitment of the Modi Govt to enhance facilities at all levels of Education in the UT.
Sharma said that there was a demand of making new tourist circuits for the development of Tourism in the region, especially in Jammu and the Finance Minister has agreed by making the provision of Rs 70 crore for new circuits including Mansar- Saruinsar Sufi circuits besides construction of water parks in twin cities of Jammu and Srinagar. However, Sharma felt that Rs 70 crores for the purpose will be too meagre. The intention of the Finance Minister to make JK UT especially Jammu region a model of Tourist excellence requires a more concerted effort in this direction because the tourist potential of Jammu region has always been suppressed.
Senior BJP leader Devender Singh Rana while reacting to the budget said that the J&K Budget will give impetus to the socio-economic transformation of the UT. “It reiterates the resolve of the Government to rejuvenate the economy, build a robust infrastructure and improve the human development index in J&K,” Rana added.
Follow our WhatsApp channel