Excelsior Correspondent
JAMMU, Feb 1: Chairman Federation of Industries Jammu (FoIJ), Lalit Mahajan and Chairman Federation Chamber of Industries Kashmir (FCIK), Ashraf Mir have expressed serious concern over the proposed non-availability of State Fiscal Incentives for new units and units under substantial expansion.
In a meeting these leaders said that this has resulted in resentment amongst the unemployed sons of the soil as they are unable to set up their units due to non availability of State Fiscal Incentives.
FOIJ and FCIK have demanded the extension of any incentives/fiscal assistance equitably to all the units-new, old and units under substantial expansion as keeping a bar on investment will marginalize the MSME sector.
Speaking in the meeting Mir asked the authorities at the helm to look into the grievances of the industry.
He requested the Governor to withdraw Toll Tax at Lakhanpur to make the local industry competitive.
FOIJ Chairman said the latest announcement by State Government declaring incentives only for new industrial units and units under substantial expansion with an investment above Rs 50 crore will be counterproductive.
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