Excelsior Correspondent
SRINAGAR, Mar 9: The Kashmir Chamber of Commerce & Industry today submitted a list of suggestions to the Finance Minister Haseeb Drabu for consideration of the same in the ensuing budget of the State.
The KCCI stressed for revival and rebuilding of flood hit economy of the State by taking a number of measures, such as making provisions for interest subsidy on loans availed by the Handicraft/Handloom artisans manufacturers and exporters, special incentive package for encouraging the direct export from State, establishments of handicraft/ handloom cluster at District level, provisions of minimum Rs 5 crores for market promotion by holding exhibitions at national and international level, establishment of Mega Food Park, food streets one each at Srinagar, Gulmarg/Tangmarg, Sonmarg and Pahalgam, transfer of power projects from NHPC to J&K, budgetary provision to help House boat owners, Shikara walas, tourist transport operators and travel agents, waiver of VAT/ Service Tax for the Tourism industry for the current year, connectivity of the Valley through Mughal Road to supplement economic growth of the region, etc.
The Chamber also suggested that the credit of VAT should be carried forward to the next financial year which will have no affect on the public exchequer but the dealer will get an opportunity of paying the same during the next financial year.
Single Toll Plaza at Lower Munda, utilization of funds, extending the financial year by three month, warehousing facility, exempting saffron from levy of any tax on its sale, reducing the high stamp duty for better compliance and revenue realization, were also suggested by the KCCI deputation, which was led by its president Sheikh Ashiq Ahmad, during meeting with the Finance Minister.
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