After long wait, Jammu region likely to get a ‘mother industry’
TNN Bureau. Updated: 3/25/2017 1:17:35 AM
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JAMMU: In a major initiative for economic development of the state, the Jammu region is set to get a mother industry, most likely a rail coach repair factory which has been long pending demand of the business community and was included by BJP in its 2014 election manifesto.
The setting of a mother industry has been a long lending demand of the business and industrial community in Jammu region. During 2014 election campaigns Finance Minister Arun Jaitley and Power Minister Piyush Goel also made commitments but a formal announcement has yet to come. The business community has been asking for establishment of rail coach factory but it is learnt that the Government of India inclined to set up a rail coach repair factory in the region.
An indication to this effect was reportedly give by Union Minister of State for Finance Arjun Singh Meghwal to a visiting high level delegation of Jammu industrialists led by Minister for Industries and Commerce Chander Prakash Ganga. The Union Minister is also believed to have assured the visiting delegation of package of incentives under GST regime to existing and new industrial units in Jammu and Kashmir.
The delegation which comprised Federation of Industries president Lalit Mahajan and leading industrialists Rahul Bansal and Vijay Aggarwal, forcefully put-forth the case of incentives under the GST regime.
During the course of discussions Chander Parkash Ganga strongly endorsed the demand of industrial fraternity for the extension of central package of incentives under the GST regime to the existing as well as to new industries for the rapid growth of Industries in state which will open the doors for employment generation and overall economic growth.
Union MoS Finance Arjun Singh Meghwal assured the delegation that the central government is very keen for the industrial development in Jammu and Kashmir and the current central package of incentives shall be extended under GST regime for the overall growth of Industries.
The delegation presented a memorandum for extension of central package of incentives under GST regime, restoration of Income Tax holidays, release of funds for the clearance of pending claims of DIPP Incentives in the current Financial Year, Establishment of Mother Industry in State and other related issues.
The Union Minister said the Central government is extending a good support to Jammu and Kashmir so that the state emerges as an industrially developed entity in pace with the acclaimed industries. He assured the delegation that all possibilities would be explored for extension of current Central Package Incentives under GST regime in the state.