Industries from Punjab's border district relocating to J&K, HP for special package
Updated: Jul 25, 2014 04:14:48pm
New Delhi, Jul 25 (KNN) The small and medium enterprises in the border district of Gurdaspur in Punjab are relocating their industries to neighbouring states like J&K and Himachal Pradesh as they have special tax packages there unlike Punjab.
Raising the issue in the Parliament, BJP MP from the district, Vinod Khanna yesterday said, “…you know the plight of the people of Gurdaspur very well. Being a border district, it has faced the wrath of wars. It borders Pakistan. The village people there have been uprooted over and over again. Nobody has even bothered to put industry there.”
He further added, “Himachal Pradesh and Jammu and Kashmir have got special packages. It is because of that, even the existing industry that was there in the Gurdaspur district was shifted to those neighbouring States.”
In 2002-03, the Government announced three packages of economic incentives for promoting industrialization in the State of Jammu and Kashmir, Himachal Pradesh and Uttarakhand, which was extended for another five years.
The economic incentives envisaged in J&K Package, inter-alia, include 100 per cent income tax and excise exemption for a period of 10 years, Central Capital Investment Subsidy Scheme at 15 per cent of investment of plant and machinery subject to a ceiling of Rs 30 lakh; Interest Subsidy at 3 per cent on working capital loan; Insurance Premium to the extent of 100 per cent on capital investments, etc.
The economic incentives envisaged in Himachal Pradesh and Uttarakhand packages, inter-alia, include 100 per cent income tax and excise exemption for a period of 10 years; Capital Investment Subsidy at 15 per cent for investment in plant and machinery subject to a maximum of Rs 30 lakh.
“We are very much a part of Himachal Pradesh. My constituency touches mountains; we go up to Dalhousie. It all touches Himachal Pradesh on one side and Jammu and Kashmir on the other side. Both the States have special tax packages. All the existing small scale industries, medium scale industries have been shifted out from here and there is a lot of unemployment. So, I would request for a special package,” Khanna said.
Khanna also mentioned that, “The initiative of allowing 15 per cent concession to manufacturing companies for the next three years who invest more than Rs 24 crore in plant and machineries is a big boost to the manufacturing and MSME sectors.”
The major exportable items under are Rice, Basmati Rice, Sugar and Knitting Yan etc. The service industry of Gurdaspur district mainly includes repair and maintenance of personal and house hold goods, computer education centres and related activities, hotel and restaurant services, telecommunications, supporting and auxiliary activities and other business activities etc. (KNN/SD)
Raising the issue in the Parliament, BJP MP from the district, Vinod Khanna yesterday said, “…you know the plight of the people of Gurdaspur very well. Being a border district, it has faced the wrath of wars. It borders Pakistan. The village people there have been uprooted over and over again. Nobody has even bothered to put industry there.”
He further added, “Himachal Pradesh and Jammu and Kashmir have got special packages. It is because of that, even the existing industry that was there in the Gurdaspur district was shifted to those neighbouring States.”
In 2002-03, the Government announced three packages of economic incentives for promoting industrialization in the State of Jammu and Kashmir, Himachal Pradesh and Uttarakhand, which was extended for another five years.
The economic incentives envisaged in J&K Package, inter-alia, include 100 per cent income tax and excise exemption for a period of 10 years, Central Capital Investment Subsidy Scheme at 15 per cent of investment of plant and machinery subject to a ceiling of Rs 30 lakh; Interest Subsidy at 3 per cent on working capital loan; Insurance Premium to the extent of 100 per cent on capital investments, etc.
The economic incentives envisaged in Himachal Pradesh and Uttarakhand packages, inter-alia, include 100 per cent income tax and excise exemption for a period of 10 years; Capital Investment Subsidy at 15 per cent for investment in plant and machinery subject to a maximum of Rs 30 lakh.
“We are very much a part of Himachal Pradesh. My constituency touches mountains; we go up to Dalhousie. It all touches Himachal Pradesh on one side and Jammu and Kashmir on the other side. Both the States have special tax packages. All the existing small scale industries, medium scale industries have been shifted out from here and there is a lot of unemployment. So, I would request for a special package,” Khanna said.
Khanna also mentioned that, “The initiative of allowing 15 per cent concession to manufacturing companies for the next three years who invest more than Rs 24 crore in plant and machineries is a big boost to the manufacturing and MSME sectors.”
The major exportable items under are Rice, Basmati Rice, Sugar and Knitting Yan etc. The service industry of Gurdaspur district mainly includes repair and maintenance of personal and house hold goods, computer education centres and related activities, hotel and restaurant services, telecommunications, supporting and auxiliary activities and other business activities etc. (KNN/SD)
Loading...
