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| Budget a step towards industrialization under Atmanirbhar Bharat: FOIJ | | |
EARLY TIMES REPORT
JAMMU, Feb 1: Terming the Union Budget-2021 as a positive step to encourage the MSME Sector of the country under the Atmanirbhar Bharat concept of Prime Minister Narendra Modi, the Federation of Industries Jammu (FOIJ) has welcomed the provisions laid down in the budget.
While going through the highlights of the Budget, the FOIJ hailed the decision with regard to exemption from the preview of the audit to businesses having turnover of less than 10 crores.
FOIJ termed it as a big relief for MSME Sector with 95% Digital Transactions. Moreover the increase in the Custom Duty on the Import of Finished Goods from outside the Country, which is being manufactured by the MSME Sector, also provide a level playing field to the Domestic Manufacturing MSME Sector which is facing stiff competition at present from neighbouring Countries. Further the Budget allocation for Infrastructure Development is also a key factor for the development of Industrial Sector.
FOIJ requested Prime Minister Narendra Modi to provide the adequate funds for the Development of Infrastructure for Union Territory of Jammu & Kashmir on priority basis keeping in mind the massive Investment on cards on the basis of 28,400 crores Industrial Package approved by Government of India for the Industrial Sector of Jammu & Kashmir. |
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