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States » NorthPosted at: Feb 22 2021 10:55PM


Industrialists in Jammu ‘unhappy’ with industrial package, appeal to PM Modi to save MSMEs

Jammu, Feb 22 (UNI) Expressing unhappiness over the recently announced industrial package for the Union Territory of Jammu and Kashmir by the Union Ministry of Commerce and Industries, industrialists of Jammu on Monday appealed to Prime Minister Narendra Modi to save the Micro Small and Medium Enterprises (MSMEs).
“As per the notification issued by the Ministry of Commerce and Industry, Government of India, we raise our concern towards the uncertainty prevailing in the mind of working (MSMEs) Micro and Small Scale Industrial Units of J&K due to inadequate fiscal incentives being granted with the denial of reimbursement of gross GST to existing units and unit under substantial expansion due to which unhealthy competition may be faced from the new investors in the state who will get the benefits of gross GST reimbursement of 300 percent on the investment of plant and machinery,” Lalit Mahajan, Chairman, Federation of Industries Jammu here told reporters at a press conference.
He was flanked by all stakeholders of the industrial fraternity from FOIJ, BBIA, SSI, KIUA and members of Executive Committee of Industrial Association of Jammu province.
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Tags: #Industrialists in Jammu ‘unhappy’ with industrial package# appeal to PM Modi to save MSMEs
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