A delegation of Laghu Udyog Bharti, J&K, led by its President Rajinder Gupta, met Governor Satya Pal Malik at the Raj Bhavan here today.
The delegation requested for re-examination of the various incentives being provided or proposed to be provided to industry in the State so that the competitive edge of existing industrial units especially the small and tiny sector is restored.
The delegation demanded 100 % SGST refund on bill value or 5% cash incentive of bill value of sales in addition to value addition refund and consumption within the State; existing units which undertake substantial expansion/additional lines of production to be made eligible for availing the declared budgetary support by the State Government. They also demanded removal of new negative list introduced in SRO 431 for 2 % incentive on sales outside the State, besides removal of the condition of 1000 km in freight subsidy incentive on interstate sales etc.
The delegation requested that Central Government be persuaded to continue with old package of incentives up to 2025.
The delegation also requested Governor for conferring ownership rights of industrial land to the entrepreneurs in order to facilitate their business growth.
Governor assured the delegation due consideration of its demands.