• TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER
Wednesday, July 2, 2025
Kashmir Images - Latest News Update
Epaper
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER
No Result
View All Result
Kashmir Images - Latest News Update
No Result
View All Result
Home BUSINESS

CII demands relief for local industries in J&K  

Images News Netwok by Images News Netwok
May 2, 2020
in BUSINESS, Latest News
0
CII demands relief for local industries in J&K   

Srinagar: Confederation of Indian Industry (CII) has urged the Administration of JK UT and the Union government to announce a bailout package along with a host of other incentives for small, medium enterprises and other industries in J&K.

In a statement issued here, CII said: “J&Ks economy has been stressed to extreme ends since last one year, as we were witnessing new wave of developmental initiatives in last few months and we could have witnessed its positive results in present times but sudden outbreak of COVID 19 has further weakened the already stressed economy of J&K.”

Related posts

Drug peddler held in Budgam

DDC member arrested by ACB for taking bribe of Rs 50,000

July 2, 2025
Drug peddler held in Budgam

Haryana man held for using fake identity card to gain access to Amarnath Yatra

July 2, 2025

“In times when India’s economy is expected to slow significantly in the current financial year due to the negative impact of the pandemic on manufacturing and service industries, we expect further stress in J&K,” reads the statement.

“Farooq Amin, Chairman CII J&K suggested that in order to stage a recovery in economic activity, the UT administration and Government of India must take some short term and long term measures for helping the Trade and Industry of J&K,” it said.

“Administration of UT of J&K should waive off a) fixed electricity charges, b) SGST leviable on GST bills for these months, c) ensure clearance of government payments towards contractors, suppliers, MSMEs and other traders at the earliest. Government of India should consider Income tax rebate for the Trade and Industry of J&K for these months, consider substantial rebate on interest on term loans and working capital loans for a period of one year,” the statement quoted Farooq Amin as saying.

“Apart from these measures Government of India should come out with a special onetime package for the trade and Industry in J&K for ensuring their survival which could be additional reconstruction term loans to medium and small enterprises, wherein it must offer a guarantee of up to 20% of the default. Such a step would help businesses and workers tide over the challenging situation. For employees of private sector, one time permission to withdraw money from EPF should be allowed as emergency measure. Special transport could be arranged from clusters from where large numbers of migrant workers come to work, with all the safety protocols in place,” he said.

“Some of the Key sector of GDP of J&Ks industrial scenario have been badly hit like Agriculture/Horticulture, Tourism, Handicrafts, MSMEs and other industries which require a substantial sector specific fiscal support measures and some of the supportive measures should be immediately provided in order to help them sustain and tide over the existential crises currently they are facing,” he added.

Ravinsh Gulati, Vice Chairman CII J&K said that they have full faith that Administration of UT of J&K and Government of India will accede to its demands at the earliest and will soon provide relief to the trade and industrial fraternity of J&K.

Previous Post

Encounter breaks out in Handwara village

Next Post

Hailstorm wreaks havoc from Boniyar to Uri

Next Post
Hailstorm wreaks havoc from Boniyar to Uri

Hailstorm wreaks havoc from Boniyar to Uri

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ePaper

  • About us
  • Contact us
  • Our team
  • Terms of Service
E-Mailus: [email protected]

© 2024 Kashmir Images - Designed by GITS.

No Result
View All Result
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER

© 2024 Kashmir Images - Designed by GITS.