Jammu, January 27, (Scoop News)-After holding a series of Pre- Budget consultation meetings with the stake holders at Srinagar, the Minister for Finance and Ladakh Affairs Mr Abdul Rahim Rather today initiated two days Pre-budget Consultations at Jammu. The main Associations which called on the Finance Minister during today’s 06 hours long marathon meetings included 26 Members Delegation of Chamber of Commerce and Industries Jammu led by its President Mr Y. V. Sharma, Confederation of Indian Industry headed by its President Mr Anil Mahajan Traders and Retailers Federation Jammu headed by Mr Yash Paul Gupta, Federation of Industries Jammu led by its Secretary General, Mr Virender jain Hoteliers Associations of Jammu represented by Ravi Mahajan Mr Kuldeep Wahie, Mr Ashiq Hussain and Baldev Raj.
The Economic Advisor to Govt. Mr Jalil Ahmed Khan, Principal Secretary, Finance Mr B. B. Vyas, Commissioner Commercial Taxes, Mr Kifayat Hussain Rizvi, Excise Commissioner Mrs Aneeta Gupta, Additional Secretary Finance Mr Showkat Aijaz and concerned Deputy Commissioners of different wings of Excise and Taxation department also participated in the Pre-Budget Consultation meetings.
Speaking on the occasion, the Finance Minister said that the Pre-Budget Consultations is a joint exercise between the stakeholders and concerned Govt agencies for drawing broader outlines of a blue print for pragmatic and people friendly budget that could satiate political, economic and social aspirations of the people. He said that these consultations provide us an insight about the problems and demands of the stake holders including trade and industry adding that despite having limited resources, the Govt has been trying its best to accommodate maximum possible suggestions and demands put forth during discussions in the Budget document. He said while seeking concessions and incentives, the aspect of revenue generations has also to be kept intoconsideration, which he said, was imperative for the overall growth of economy and development of the State. “After all the Government is also answerable before the Planning Commissioner of India for its performance with regard to resource mobilization “Mr Rather added.
Mr Rather said that the exercise of Pre-Budget discussion has proved very beneficial so far adding that Govt intends to further broad base the course of interactions with the stake holders to make business procedures easier for them.
Mr Rather said in fact, computerization of Commercial Taxes department is also a step towards removing hardships of the Trade and Industry adding that e-filing of returns would go a long way in minimizing interface between dealers and employees of the Commercial Taxes Department. He said the ultimate objective and idea of internet usage in Commercial Taxes department is to make things easy for trade and industry adding that the system is yet in infancy which needs to be introduced slowly but steadily.
The Minister also assured the participants in the Pre-Budget Consultation meetings that the proposed Goods and Services Tax (GST) regime,being implemented throughout the country shortly, will be introduced in J&K State after taking on board all the stakeholders. He said interests of Trade and Industry shall be fully safeguarded while implementing this biggest ever tax reform in the State.
The delegation while lauding the experienced leadership of Mr Rather in financial and budgetary matters appreciated the Government’s decisions of pre-poning budget session of the State Legislation by a few days so that the budget of the State is passed well before the Model Code of Conduct comes into force in the wake of ensuring Parliamentary elections in the country. They also highlighted the problems of Jammu in the fields of infrastructure, traffic congestion, Multitier Parking and road connectivity adding that besides focusing on Trade policy the new years budget should spell out measures for setting up warehouses, wholesale and retail shopping complexes, additional special goods markets to enhance the opportunities for more trade and business in summer. They also sought further tax concessions for trade and industry in the State.
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