x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   SAC approves use of forest land for developmental purposes | SAC approves re-structuringof Commercial Taxes Department | SAC approves promotion of IPS officers | SAC approves hike in SPOs’ honorarium | SAC approves signing of MoU for setting up Composite Regional Centre at Jammu | Power shutdown | Police patrol party attacked with grenade in Baramulla, two cops injured | Army jawan arrested on spying charges from Meerut Cantonment | World should thank us for eliminating terrorism: Pakistan Army spokesperson | Students from Kashmir need to submit 'no criminal record' certificate to study in Punjab | 3 terrorists killed, 1 police personnel martyred in Srinagar encounter, search on | Jammu, Ladakh expose PDP, NC's politics of competitive separatism | Tourism promotion in Jammu region, BJP's claims prove hoax | Failure to implement SLWM likely to cost JK govt Rs 650Cr | Inspecting sweet shops during festivals merely eye-wash | Amid #MeToo outrage, JK victims suffer as women commission is headless | Contractuals run the show in BGSBU Rajouri | Employees confused over Health Insurance Scheme | J&K Bank half-yearly net profit grows 44% to 146 Cr | GMS Satrari lacking infra, violating norms | Will Farooq Abdullah boycott Assembly poll too? | BJP- a house of satire politics | Towards Zero Hunger and Sustainability | Work on construction of Bunkers along IB stalled | Municipal polls culminate with dismal voter turn-out in Srinagar, Ganderbal districts | ZEO office functioning from private building for last 15 years | Construct bridge on Mendhar nallah | SDH Mandi faces staff shortage, patients suffer | NC, PDP shouldn't have boycotted JK civic polls: Guv | 2 absconders arrested | HC closes PIL, orders protection of artifacts | 9 yrs on, GREF fails to complete upgradation of Rajouri-Budhal road | HC grants 8 weeks for status report on recovering Gulmarg land | Infantry cycle rally to commemorate Infantry Day | Training imparted to counting staff in Rajouri | DEO holds meeting with candidates before counting of votes | Intera Diocesan Schools Sports Competition held | CTP on Commercial Organic Horticulture Organised | Cluster University holds first academic council meeting | Vyas deliberates on issues raised by trade, industrial bodies | Kumar for effective law enforcement to prevent, control pollution | IT raids MG enterprises, Rashtriya Industry, Janta industry in Jammu, Samba | TT Championship U-17 of Khelo India concludes | GDC Udhampur conducted Industrial visit | Shaheen FC, J&K Bank Academy reaches Final of Tournament | Youth Ramleela Natak Club stages Ramleela | MV Inlt' School celebrated World Food Day | vHarman dance institute organizes workshop on dance | APS Ratnuchak lift Khelo India Basketball | DGPC facilitates bicycler | Rajiv Gandhi College holds awareness rally on Swachh Bharat | Bovine smuggling bid foiled, 10 bovines rescued | Govt notifies 88 new services in 16 Departments under PGSA | Stolen bike recovered, two arrested | World Bank team to visit on Oct 22, review progress of JTFRP | Eight Sport climbers leave for Delhi for further coaching | Officers put on highest alert in view of bi-annual Darbar Move | JKHB removes encroachments on Channi park | 11 Munsiffs promoted as Sub-Judges | Scenes from Ramayana enthralled devotees | HC disposes of plea seeking Anantnag bypolls | 10 years jail to fraudster | Cent percent household electrification in J&K soon: Commissioner Secy PDD | Oil Tankers Assosciation calls for Indefinite strike | JPS celebrates 14th Annuals sports Day | DPS Jammu wins medals in TT tournament | Plus 2 lecturers for expediting regularization process of incharge incumbents | Div Com Jammu reviews progress of Dev Projects | 2 PHE officials suspended for negligence of duty | Water crisis in Kishtwar, Bhandari lambasts PHE Department | Teacher's JAC Thathri demands action against corrupt officials | NSUI prez quits after sexual harassment charges, Rahul Gandhi accepts resignation | Chairman JKGB Janak Raj Angural inaugurates new premises | Joint team inspects Private coaching Centres | SPA asks authorities to take steps against anti encroachment | 11 bovines rescued, smuggler arrested | AAP-J&K rejects suggestions of High Level State Committee | Govt clueless over laws governing Assembly suspension: Harsh | SSDF demands sedition case against Mehbooba | Mass protest of FMHWWA enters day 51 | ABVP celebrates World Food Day | JJSF starts fast on students martyr day | GMC surgery deptt to organize 7th annual conference | Documentary "Peering Souls and Peering Warriors" screened | Free dental camp organized by HelpAge India | MNP urges workers to gear up for Panchayat elections | JKMF demands release of salary to watch & ward employees of BSNL | Three Regional Councils only acceptable to all: MPEJ | KVK organizes certificate distribution camp | ABVP Jammu criticizes AMU students' act | GHSS Nagseni organized Industrial tour for IT students | 172 officials of Armed Police promoted in J&K | Back Issues  
 
news details
Abrupt withdrawal of 'live' package for incentives major jolt to industry sector
Un-'Ease of Doing Business' mockery with Jammu industries
11/22/2017 11:36:43 PM
Pardeep Singh Bali
Early Times Report
jammu, Nov 22: Terming the 'Ease of Doing Business' an eye wash and mockery with the fraternity, members of Industrial federation said that the government has 'dented' the industrial sector of Jammu region, which is otherwise incentive based.
Talking to Early Times, Ex-Chairman of Federation of Industries Jammu-Rajesh Jain said that Ease of Doing Business is nothing more than a deception.
"The Central government provided two packages for Jammu and Kashmir for ensuring level play field, keeping in consideration limited investment from outside due to multiple factors, including hostile borders," said Jain, adding that the package was introduced at the time of former Prime minister of India-Atal Bihari Vajpayee in 2002 and was envisioned till 2020 and was incentive based.
He asserted that even Prime Minister Manmohan Singh under UPA-I and II continued with the package with minor amendments, but this government has abruptly withdrawn the incentives.
"The government has now reduced the quantum of incentives to mere 25 percent," said Jain, adding, "On one side the government provided Rs 1 Lakh Crore package for Jammu and Kashmir, besides Rs 800 crore for industry, but due to unknown policies of the government the same has been reduced to Rs 200 crores only."
He maintained that this new scheme has also blocked doors for the new units, while as already existing industrial units may get only 25 percent incentives.
"The package introduced by the central government in Jammu and Kashmir was also beneficial for new units in production, wherein they were entitled to avail incentives for 10 years from the date of production, which was also withdrawn, thus breaking the back bone of the new industries," Rajesh said and added that government had done two major blunders, including reducing the quantum of incentives drastically and killing surviving package abruptly much ahead of its scheduled period.
Talking about the modus operandi, Rajesh Jain said that earlier there used to be self-credit process with refund mechanism, which was speedy and transparent, but now government has converted it into 'Budgetary Support'.
"After GST regime, the government has converted refund mechanism into Budgetary Support, in which industrialists have to invest first and then have to wait for 3-6 months for refund," said Ex-Chairman of Federation of Industries Jammu-Jain.
He added that the concept of ease of doing business is altogether different from the present state of working in the Jammu and Kashmir.
"The proposed concept of business has more uneasiness than easiness. For your own money you have to wait for 3-6 months in addition to tolerate bureaucratic tantrums," he said and added that the new concept should be renamed as 'Unease of Doing Business'.
He said that earlier there was 100 percent VAT remission and after GST regime, SGST was proposed at par with VAT, but till date no notification, modalities or modus operandi is visible at governmental level, which has already created fear among industrialists about the future of industries in Jammu.
Rajesh Jain said that the state government has also abandoned the industrialists of Jammu.
"It's been five months since GST regime has been implemented in the state and till date the government has only given an outcome which provides only 20-25 % incentives of what industrialists used to get prior to GST regime, except few units," Rajesh Jain said and added that almost 90 percent of industrial units in Jammu only are affected by this unplanned move of the government, besides their uncommitted promises.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU