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Union Finance Minister to start two-day J&K visit from Nov 23   

On November 23 on first leg of her visit, Sitharaman after reaching Jammu will be interacting with stakeholders of various business, trade and industry delegations at Jammu Haat.  As per sources, purpose of the Finance minister visit to J&K will be getting firsthand account of the issues related to investment, development and manufacturing activities in the UT.
Union Finance Minister to start two-day J&K visit from Nov 23   

Jammu: On her first visit to Jammu and Kashmir after the abrogation of Article 370 and 35A and converting the erstwhile state into twin union territories on August 5, 2019, the Union Finance minister Nirmala Sitharaman will be visiting Jammu and Kashmir on a two visit starting from November 23.

On November 23 on first leg of her visit, Sitharaman after reaching Jammu will be interacting with stakeholders of various business, trade and industry delegations at Jammu Haat.  As per sources, purpose of the Finance minister visit to J&K will be getting firsthand account of the issues related to investment, development and manufacturing activities in the UT. The trade and commerce in the UT like other parts of the county has been adversely affected by the Covid induced lockdown in last one and half years. The people associated with travel and hospitality sector, industrial sector and been worst affected by the pandemic.

It is learnt that the union ministers who visited J&K recently, as part of the centers’ outreach programme too have shared with finance ministry the status of various developmental projects going on in the UT.

The industrialists in J&K have been seeking Reimbursement of SGST to Local Existing MSME Units as on 31-03- 2021, One Time Relaxation for filing the Time Barred GST Reimbursement and Budgetary Support Claims by the Industrial Units as per SRO No. 519/521/63 and 431, Reimbursement of 5% Interest Subvention Benefit to Industrial Units having Credit Facility from Banks Business Units located outside Union Territory.

Past Tuesday, Union finance minister had interaction with Jammu and Kashmir Lieutenant Governor Manoj Sinha along with chief ministers, finance ministers of all states via virtual conference, with a view to enhance the investment climate in the country and to step up investment, infrastructure, and growth through a consultative process in the post-pandemic world.

Sinha highlighted the key reforms and steps taken for managing the UT’s economy during COVID-19, its growth potential and focus areas, besides putting across issues that require consideration by the Union government during interaction with Finance Minister Nirmala Sitharaman.

The Lt Governor also put forth the challenges and issues faced by the UT including resource gap, higher cost of delivery of services due to unique topography. He also highlighted the issue of pending approvals of Tourism projects under the Prime Minister’s Development Package (PMDP).

All these issues will be highlighted to the union finance minister, while similar meetings of trade and industrial bodies will also be taking place in Srinagar on November 24.

Owing to Covid-19, Rs 1,350 crore rehabilitation package was announced by UT Government to revive businesses in J&K which included 5 per cent interest subvention besides certain waivers of PDD and PHE dues.

 

 

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Union Finance Minister to start two-day J&K visit from Nov 23