Peoples Democratic Party (PDP) has hailed the State Government for retaining the tax assessment and administration powers under Goods and Services Tax regime, which was an intractable issue post-GST implementation.
“The move has come not only as a huge relief to the state’s business community but also ensures protection of JK’s tax administration powers under the GST regime which was flagged by our political opponents as a major area of concern,” PDP General Secretary, Peerzada Mansoor Hussain said in a statement.
He said the noteworthy decision has also put to rest the speculations and fears over dual tax administration by the state and the Centre. “The credit for this landmark initiative goes to the Finance Minister Dr Haseeb Drabu who had time and again assured that the State Government would ensure adequate safeguards to its tax administration powers under the new regime,” Mansoor said.
He also hailed the pioneering fiscal initiative by the Finance Minister of factoring in wide-ranging Expenditure Reforms in the Appropriation Bill-2018, making the government legally bound to ensure time-bound public expenditure, avoid delays in execution of development works and reduce pilferages. “By setting timelines for release of money and its utilisation across the departments and executing agencies, the Finance Minister has, for the first time in the state’s fiscal history, linked expenditure reforms with allocation of funds to ensure timely and productive use of resources for the larger public good,” he said.
Peerzada Mansoor said another significant initiative of Dr Drabu is the Labour Law Reforms initiated by him to put in place a uniform labour code in the State. “This historic move is not only being hailed across the country, but some states have even started replicating the same to streamline the labour administration in their respective states,” he said.
He said the slew of reforms and welfare measures announced by the Finance Minister over the past few days encompassing every sector and every section of the society signifies an important step towards triggering JK’s economic revival and ensuring the welfare of the people.
Mansoor said the visit of Dubai Ports Chairman & CEO to Jammu yesterday an exploring the possibility of investing in Dry Port here also signifies a major shift towards attracting foreign direct investment in the State, which was unimaginable in the past.
He said such revolutionary initiatives are unprecedented in the state’s history and would go a long way in laying the foundations for a politically stable and economically emancipated Jammu and Kashmir. “While the slogans of social justice and inclusive prosperity have been exploited as political plank by various parties in the State, our Government has moved beyond its commitments to ensure welfare of the State and its people,” he said.