words per minute
10
SADDAMKHAN1503449
00:00
Speed
Union Government’s Special Package for Industrial Development of Jammu and Kashmir has expired but the Department of Industrial Policy and Promotion (DIPP) of Government of Indian has yet not taken decision regarding extension of incentives particularly in view of new tax regime being implemented across the country from July 1, 2017.
As the special Package is imperative to maintain the enabling environment for ongoing industrial development of the State, the Chief Minister Mehbooba Mufit is likely to take up the issue with the Prime Minister Arun Jaitley in near future.
The package of industrial incentive for the State of Jammu and Kashmir was announced on June 14, 2002, for a period of 10 years up to June 14, 2012. Following its expiry the government for its extension and it took one year to the Department of Industrial Policy and Promotion (DIPP) to take final decision.
Accordingly on June 14, 2013 the Union Government extended the Special Package for Industrial Development of J&K for a further period of five years and the same was given effect from June 14, 2012 when the earlier package had expired. The five years extend period of Special Package has expired on June 14, 2017 as such industrialists cannot avail the benefits/incentives till its further extension or announcement of new package by the Union Government, Official sources told EXCELSOR.
In the recent past, a delegation from Jammu and Kashmir led the top brass of Industries and Commerce Department called on the officers of Department of Industrial Policy and Promotion and stressed the need for continuation of incentives on the ground that without Special Package it would not be possible for giving necessary impetus to the industrialization, sources informed.