Excelsior Correspondent
JAMMU, Apr 1: A meeting of Bari Brahmana Industries Association (BBIA) was held today under the chairmanship of its president Lalit Mahajan to discuss the uncertainty prevailing in the mind of young entrepreneurs to establish the units in MSME Sector due to non availability of State fiscal incentives.
The meet observed that due to non availability of State Fiscal Incentives to new Units and Units under Substantial Expansion for the Investment less than Rs 50 crore, the worst suffers are the sons of the soil who are not able to start their Units with the limited investment from the hard earned money of their parents resulting increase in unemployment graph of the local youths due to limited availability of jobs.
“The position is more serious that the investors from outside the State are also uncertain to invest in Industrial Sector of J&K due to availability of land on 40 years lease, which was earlier 90 years and it is the need of the hour to provide land to outside Investors on 90 year lease and Free Hold Rights to the local sons of the soil to set up their ancillary Units to supply the goods to the Medium and Large Scale Units and Government should also made it mandatory for the Medium and Large Scale Units to purchase their raw materials and packing materials from the local MSME Units, which in return would give employment to locals and generate more businesses for ancillary units directly and indirectly,” the met said.
BBIA appealed to the Governor Satya Pal Malik, Advisor K Skandan and Principal Secretary Industries and Commerce Navin Kumar Choudhary to grant the State Fiscal Incentives to new Units and Units under Substantial Expansion for the survival of MSME Sector of the State being run by sons of the soil
BBIA demanded budgetary support for reimbursement of 100 percent CGST and SGST for Intra-State Sale to existing as well as new Units under Substantial Expansion, budgetary support for the reimbursement of 2 percent sale value for Inter-State sale to all the existing as well as new units and units under Substantial Expansion and State Road Freight Refund Scheme upto destination for the Inter-state sale to neighbouring States to all the Units.
The meeting was attended by Suresh Mahajan, Varun Singla, Ajay Langer, Vivek Singhal Viraaj Malhotra and other members of BBIA.
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