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| KCC&I pitches for waiver of VAT, Service Tax in tourism sector in 2015-16 budget | | Soft loans demanded for small traders | | Jehangir Rashid
Early Times Report
SRINAGAR, Mar 11: Kashmir Chamber of Commerce & Industry (KCC&I) has urged the state government to waive off the service tax and Value Added Tax (VAT) for the tourism sector following the losses incurred by the tourism players during the devastating flood of September 2014.
The appeal was made during the pre-budget meeting with Finance Minister, Dr. Haseeb A Drabu held here. The KCC&I team told the Finance Minister that necessary provisions need to be made in the ensuing budget for sufficient assistance to help create five star accommodations. Budgetary provision was also demanded to be made to help the Houseboat owners, Shikara owners, tourist transport operators and travel agents to help renovation and replacements. "Due to the devastating floods the tourism industry has suffered most in terms of damage to the infrastructure and loss of business. We would therefore suggest that the provisions be made for waiver of VAT/ Service Tax for the tourism industry be made for the current year," said the KCC&I.
The KCC&I demanded that provisions be made for the revival and rebuilding of flood hit business infrastructure in the Kashmir valley. The Chamber demanded that sops should be given to the people dealing in micro trade. The KCC&I said that soft loans at lower rate of interest should be given to the people associated with small and medium trading establishments. In the handicraft sector KCC&I suggested that provisions be made for interest subsidy to be paid on loans availed by the handicraft/Handloom artisans manufacturers and exporters to help them produce/export handicraft products of all sorts in large numbers to earn more and contribute to the growth of state economy.
"Provisions should be made for Export Policy with soft package given to help manufacturers/ exporters of the state so that they hold inventories of different handicraft items so that they are in a position to compete with other countries in the export market. Provisions should be made for special incentive package for encouraging the direct export from state," said the Chamber.
The KCC&I said that provisions be made for establishments of handicraft/ handloom cluster at district level so as to help provide employment to thousand of artisans skilled in carpet weaving and other crafts. They said that provisions of minimum Rs. 5 crores should be made for market promotion by holding exhibitions at national and international level and that KCC&I be made nodal agency for organizing such exhibitions and fairs etc. "Provision to bear the state share for establishment of Mega Food Park under Government of India (GOI) scheme is required to be made in the budget 2015-2016. As per the relevant scheme the GOI shall bear 75 percent of the total cost while as 15 percent will have to pumped in by the State and 10 percent shall have to borne by the stakeholder in the project," the Chamber demanded.
The KCC&I said that budget provision should be made for establishment of food streets one each at Srinagar, Gulmarg/Tangmarg, Sonmarg and Pahalgam. The GOI will provide Rs.20.00 crores for four food streets. On the power front the Chamber said that if the power projects are returned to the state the expenditure on energy purchase would be reduced and economic dependence on GOI is substantially reduced.
"It was suggested that government should make provision for construction of Common Sewage Treatment Plants in the Budget. The Government has already issued SRO for constructing such STP'S in various areas and only the provision needs to be made in the Budget. Provisions should be made to maintain the connectivity of valley through Mughal Road to supplement economic growth of the region," the chamber demanded. |
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