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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Manmohan Singh under UPA-I and II continued with the package with minor amendments, but this government has abruptly withdrawn the incentives.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in production, wherein they were entitled to avail incentives for 10 years from the date of production, which was also withdrawn, thus breaking the back bone of the new industries," Rajesh said and added that government had done two major blunders, including reducing the quantum of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.
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