Sunday, June 24, 2018
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JK budget as totally anti-Industry
Jammu, March 7 (Scoop News) -The state’s budget as totally anti-Industry, BJP Cells State Incharge Sat Sharma (C.A) and BJP Trade & Industry Cell State Convenor Choudhary Vikram Randhawa said that the State Finance Minister has betrayed the already suffering industry of Jammu province in particular.
In a joint statement issued on Thursday, Sat Sharma and Ch. Vikram Randhawa said that there were high expectations among the Trade as well as Industry sector but all dashed to ground after the opening of briefcase by Abdul Rahim Rather in the state assembly on Wednesday.
Recalling the pre-budget meeting held at Jammu between the finance minister and various industrial organizations, including the team of BJP leaders said that a unanimous demand of extension in VAT remission for five years was made and disused which was expected to be acceded but the budget presented has ignored this genuine demand and just one year extension has been given. They further said that another demand was to scrap 22% electricity duty as the industry has been paying the tariff from time to time and hence there was no justification of electricity duty.
Moreover, the issue of 13.5 % Entry Tax on spare parts of various industries was also raised in the meeting. They also took strong exception to increase by 5 paisa per kg in the existing rate of Toll Tax adding that it will further cause price rise.
They said that it is indeed unfortunate that despite assurances by none other than the Finance Minister himself in the pre-budget meeting not even a single demand has been fulfilled. They said that the budget is thus totally anti-Industry and BJP Trade & Industry Cell oppose it tooth and nail and stands with the traders and industrialists.

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