Excelsior Correspondent
JAMMU, Dec 9: Association of Industries (AOI) Gangyal (Jammu) has urged the Central Government to provide dedicated funds for the Micro/Small existing industry under the enhanced Industrial package.
In a statement issued today, Virendra Jain (president, AOI Gangyal) as the LG Manoj Sinha have requested Prime Minister, Home Minister and DPIIT for enhancement in funds allocation from Rs 28400 crore to Rs 75000 crore in Industrial package to accommodate uncovered and under process proposals for promoting establishment of new enterprises, the Central Government should accommodate the local Micro/Small existing industry out of the 75000 crore and provide dedicated funds for the Micro/Small existing industry under the package.
Virendra Jain further emphasized that in addition to the establishment of new enterprises, according equal impetus to the survival and welfare of existing local Micro/Small units is also 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.
Jain requested the authorities to extend the Fiscal Incentives to the existing Micro/Small industrial units at par with the new units so as to save the existing industrial sector. He also impressed upon J&K Government and all its functionaries specifically entrusted with development, promotion and protection of Industries in J&K to include to provide all Fiscal Incentives to local Micro/Small units at par with upcoming units as envisaged in NCSS scheme of Government of India and include Turnover Incentive in the scheme for existing MSME industries.
He further drew the attention of J&K Government to accord at least 25% Reservation of total land allotments to local entrepreneurs for setting up the Micro/Small industrial units on priority as salient feature of the Industrial Policy.
Follow our WhatsApp channel