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Aayakar Bhawan will play a significant role in streamlining the process for the taxpayers of J&K: LG

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Srinagar: At the inauguration of Aayakar Bhawan-cum-Residential Complex at Rajbagh, Lt Governor, Manoj Sinha, in his keynote address said that inauguration of the new income tax and residential building ‘The Chinars’ is a sign of socio-economic change taking place in the Union Territory of Jammu and Kashmir.

Expressing gratitude to the Finance Minister for the economic reforms in J&K, the Lt Governor said that the ‘The Chinars – Aayakar Bhawan’ will play a significant role in streamlining the process for the taxpayers of J&K, observed the Lt Governor.

The Lt Governor said that during the last about two years, J&K has been steadily progressing in true sense, offering opportunities to women, youth, entrepreneurs and farmers alike. The historic Industrial Scheme worth Rs 28,400 cr has opened up investment opportunities for people from across the world. It will certainly lead to more development and prosperity in Jammu and Kashmir.

“We have already received proposals worth Rs 29,000 cr and we expect to reach the figure of 35,000 cr by ending December”, he added.

Reiterating his resolve of bringing transparency in the governance system, the Lt Governor said that more and more technological interventions are being made to ensure a responsible, accountable and corruption free system in J&K.

“We have developed tools like ‘JKBEAMS’, through which a person sitting in far flung areas can monitor the spending of each penny on public projects. For the first time in the history of Jammu and Kashmir, physical verification of projects has been made mandatory”, the Lt Governor added.

Speaking during the interaction with tax administrators and stakeholders, the Lt Governor termed the taxpayers of the country as the most valuable allies of the Income Tax Department.

Congratulating the officers of the tax department on beginning of the new chapter of Income Tax Department in Jammu and Kashmir, the Lt Governor made an appeal to various trade, industry organizations and people associated with the tourism industry for working hand in hand with the tax department for the progress of Jammu and Kashmir and paying tax for providing better facilities and infrastructure to the common citizens.

The Lt Governor said that after August 2019, constructive reforms have been brought in the economic and social system of Jammu and Kashmir.

The Lt Governor informed that in September last year, a stimulus package of Rs 1353 crore was given for the business class suffering from Corona, from which three and a half lakh business institutions were directly benefited.

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