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Apex trade body hails J&K budget
Jammu-based Chamber of Commerce and Industry has welcomed the sops and provisions given in the budget for the industries and commerce sector
The Chamber of Commerce and Industry (CCI) here on Thursday hailed the ₹1.08 lakh crore budget for J&K claiming it to be a step towards the overall development of the union territory.
In a statement issued here, CCI president Arun Gupta welcomed the sops and provisions given in the budget for the industries and commerce sector saying this time, the allocation of funds ( ₹648 crore) is ₹291 crore more than last year’s budget, thus raising hopes of all the stakeholders that soon their problems shall be mitigated.
He said that ₹400 crore for the reimbursement of GST by state taxes department is also a significant step for trade and industry fraternity as this will prove to be a boon for the MSME sector besides other stakeholders. He said the government through such initiatives is doing its bit in providing much required stability to the sickening industry and businesses grappling to overcome recession caused due to curbs imposed on account of Covid-19.
Gupta also appreciated the mentors of this year’s budget for announcing a food park in Kud area of Udhampur district claiming that it would go a long way in boosting the economy and generating employment avenues in the hilly part of the district.
Budget short of expectations: Cong
Jammu and Pradesh Congress Committee has said the budget allocations were short of the people’s expectations and needs on various fronts in view of the numerous challenges post downgrading of the state into a UT. Expressing dismay over the lack of initiatives to boost the economically distressed region, senior party leaders said a meagre increase from ₹1,01,428 crore to ₹1.08 crore compared to last year was even below the routine enhancement expected by the people.
