Excelsior Correspondent
JAMMU, Apr 11: Federation of Industries Jammu (FOIJ) has urged the Lt Governor Manoj Sinha for his intervention for the reimbursement of turnover incentives to existing working Industrial units for the financial year 2021-22.
While highlighting the issue, Lalit Mahajan Chairman Federation of Industries Jammu and president Bari Brahmana Industries Association drew the kind attention of Lt. Governor towards the Govt. Order No- 117-Ind of 2021 dated 19-04-2021 Clause No. 4.8 Turnover Invectives with Clause No 4.8.3, submitted by the existing industrial units as on 31-12-2022 amounting to Rs 200 crores to Industries Department for Jammu and Kashmir.
It is pertinent to mention here that the turnover incentive was given to existing industrial units as per the Industrial Policy 2021-30 to provide relief to the unit holders who suffered due to abolish of Toll Tax w.e.f 01-01-2020 to meet the stiff competition from the outside suppliers and the same has been passed on by the Existing Units to the consumers accordingly during the Financial Year 2021-22.
FOIJ claimed that in-spite of repeated requests made to Prashant Goyal, Principal Secretary Industries & Commerce Department for the release of adequate funds to Director General Industries & Commerce Jammu/Kashmir for the reimbursement of Claims for the Financial Year 2021-22 but nothing has been done till date resulting the existing units facing the financial crunch due to blockage of working capital as the amount of turnover incentive already passed on by unit holders to their customers.
Federation sought intervention into the matter for the allocation of additional budgetary support of Rs 150 crores by Finance Department to Industries & Commerce Department enabling Industries Department for the settlement of turnover incentive claims for the period ending 01-04-2021 to 31-03-2022 which will provide great relief to the existing industrial units.
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