Excelsior Correspondent
JAMMU, July 13: Stating that the Finance Department has failed to release funds to clear turnover incentives pending claims of 2021-22 and 2022-23 of existing working units of Jammu and Kashmir, Federation of Industries (FoI) Jammu has sought intervention of Lieutenant Governor Manoj Sinha for release of requisite funds.
In a statement issued today, Lalit Mahajan (Chairman of FoI Jammu) said that the existing working units of J&K are suffering very badly due to non release of requisite funds to Industries Department by Finance Department to clear the liability of turnover incentives claims for the financial year 2021-22 and 2022-23 in spite of repeated requests and reminders which show the casual attitude of Finance Department towards these existing working units, majority of which being run by the sons of soil are providing direct and indirect employment to lakhs of local people.
The FoI Chairman said that with effect from 01-04-2021, the Finance Department has withdrawn the SRO 431 of 2018 which was notified for providing hand holding support to working industrial units of J&K with an annual Budgetary Support of approximately 200 crores per annum and the same has been replaced by providing 50 crores Initial Budget on annual basis in the Industrial Policy 2021 with the assurance to stake holders that the claims shall be settled on the basis of actual Turnover Incentive Claims.
He said accordingly the Turnover Incentive Claims has been filed by the working industrial units for the financial year 2021-22 amounting to approximately Rs 206 crores against which nothing was released till ending March 2024 and only 8 to 10% payment was released in the month of June 2024 for the financial year 2021-22 to some of the industrial units whereas nothing has been done so far to process the cases for the financial year 2022-23.
Lalit Mahajan requested the LG to intervene into the matter for the release of requisite funds to clear the liability of Turnover Incentives for the period 2021-22 and 2022-23 on the basis of actual claims filed.
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