KTUF demands int’l cargo handling facility in Valley
Measures afoot to exploit water resources for self-sufficiency in power: FinMin
GK NEWS NETWORK
Srinagar, Feb 5: On the second consecutive day, Minister for Finance, Abdul Rahim Rather today held pre-budget discussions with the members of Kashmir Traders United Front, Intellectuals and Academics.
Rather said the exercise of holding pre-budget discussions with cross-section of people has proved very fruitful as it serves the twin purpose of having an insight into the view point of the stakeholders, their problems as well as improvisation at the administrative level.
He said the basic objective behind this exercise was to associate the people in Budget formulation exercise by including genuine demands and suggestions of the stakeholders in the Budget proposals.
He said in previous budgets also most of the genuine demands and suggestions of the stakeholders were reflected predominantly adding that in future also such suggestions will be considered with open mind by the Budget formulators.
‘’It is due to such exercises that the entire agriculture sector has been made almost tax free and special incentives and tax concessions have been earmarked to boost the tourism sector in the State’’, Rather added.
Economic Advisor to Government, Jalil Ahmad Khan, Commissioner Commercial Taxes, Kifayat Hussain Rizvi, Director Budgets, Dr. M. Ishaq Wani, Special Secretary Finance, Zubair Ahmad, Additional Commissioner Commercial Taxes, Rafiq Ahmad Hakim, Deputy Commissioner Commercial Taxes Central, Showkat Aijaz and other concerned Officers were also present in the meetings.
Responding to the suggestions regarding exploitation of vast Hydel potential, Rather said it was for the first time in the history of the State that a “realistic power policy has been announced by the present Government and construction of mini Hydel projects has been thrown open for bidding to the local entrepreneurs also.”
He, according to an official statement, said the Cabinet Sub Committee (CSC) has already recommended taking back some power projects from NHPC. He also sought support of the business community to tide over the grim power receipt situation.
Rather said business community is the responsible and integral segment of the society and its contribution in the socio-economic transformation of the State is pivotal.
He said safeguarding their interests is the prime concern of the Government. However, he said as the tax revenue was imperative for the development and progress of the State there cannot be any compromise on the account.
The members of intelligentsia and academics also held a wide ranging deliberations with the Finance Minister along with the team of senior officers and gave their valuable suggestions for further improving and upgrading the State’s overall socio-economic set up.
President Tax Bar Association (TBA), Srinagar, Firdous Atta Muhammad suggested to increase threshold level from Rs. 7.5 lakh to Rs 12 lakh for registration purposes and sought one time amnesty for arrears under GST Act 1962.
Academicians including Prof. Noor Ahmad Baba, Department of Political Sciences, Prof. F. A Masoodi and S.H. Rafiqi, Vice Chairman, Srinagar Chapter of Institute of Company Secretaries of India also presented their views to make the Budget proposal growth oriented.
The 20-member delegation of Kashmir Trade Union Front (KTUF) was lead by its President, Haji Muhammad Sidiq Baqal.
The demand put forth by the KTUF in its memorandum included proper rehabilitation package for the dislocated shopkeepers due to widening of I.G Road, roads at Nowgam, Qamarwari, Rainawari, Batmaloo, Ram Bagh, Solina Silk Factory Road etc. and fresh amnesty to the traders to remit their outstanding, rationalization of tax rate in the wake of proposed GST and creation of international cargo handling facilities in the Valley.
Lastupdate on : Tue, 5 Feb 2013 21:30:00 Makkah time
Lastupdate on : Tue, 5 Feb 2013 18:30:00 GMT
Lastupdate on : Wed, 6 Feb 2013 00:00:00 IST
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