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| JKUT budget 2021-22 : A step towards industrilzation | | | Early Times Report
JAMMU, Mar 18: Nirmala Sitharaman, Union Minister of Finance presented Union Territory of Jammu & Kashmir Budget 2021-22 in Parliament yesterday for the allocation of 1.08 Lac Crore Budget with the allocation of Rs.648 Crores for Industry & Commerce Department with an increase of 291 Crores from the last year Budget and Rs. 400 Crore for the reimbursement of GST by State Tax Department which we termed as step to provide relief to existing MSME sector of our state as well as to provide the Infrastructure for the Development of New Industrial Estates keeping in mind the massive Investment in near future on the basis of 28400 Crores Industrial Package of Incentives 2021 approved by Govt. of India for J&K UT.
Lalit Mahajan, chairman Federation of Industries Jammu conveyed thanks to Union Finance Minster Nirmala Sitharaman, Lt. Governor Manoj Sinha, Arun Kumar Mehta Financial Commissioner, Finance Department and Ranjan Prakash Thakur (IRTS) Principal Secretary Industries & Commerce Department J & K Govt. for a whopping 45% increase in the Budget Provisions for Industry & Commerce Department of Union Territory of J & K.
It is pertinent to mention here that in the Budget Provisions of 2021-22, Rs.1.08 Lac Crores, Rs. 648 Crores has been allocated for the Industry & commerce Department and we are hopeful that under the said Provisions, adequate allocation has been done on the basis of our Representations given from time to time for providing relief to Existing as well as Units under Substantial Expansion also suffering very badly in post GST Regime due to dilution of Fiscal Incentives, Removal of Toll Tax w.e.f.01-01-2020 and post COVID-19 situation. |
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