Jammu, Feb 2 (KNN) The Jammu based micro, small and medium enterprises (MSMEs0 have expressed disappointment with the Union Budget stating their plea to extend “Tax Holiday” the state went unheard.

The Bari Brahmana Industries Association (BBIA) has said that Union Budget 2017 has not fulfilled the expectations of the industries in Jammu.

Talking to KNN, BBIA President Lalit Mahajan said the state has been demanding for allotment of Income Tax Holiday but Finance Minister has not included their appeal in his Budget announcements.

“I-T holiday had been withdrawn by the government in 2012. We had sent a proposal regarding the re-allotment of I-T holiday but there was no hearing,” said Mahajan.

Tax Holiday is a government incentive program that offers a tax reduction or elimination to businesses.

He said after disappointment from the Union Budget, now Jammu MSMEs are waiting for some incentive under GST regime.

“We are seeking the fiscal incentives to be extended under the GST regime as it is need of the time,” added President, BBIA.

According to Mahajan, Jammu is a consuming state and to making supply out of the state results in additional costs.

“State like Jammu has to spend additional costs due to which industries are shutting down in the state and in order to nullify these additional costs, units are demanding the incentives,” said Mahajan.

According to him, the other major issue that was not considered in the budget is the encouragement of the Public Sector Undertakings.

“MSMEs here need encouragement,” he added.

Highlighting the careless attitude of government towards state MSMEs, he said that state Finance Minister had announced the consideration of the government towards the issue but no action has been taken.

“In November, the state Finance Minister said that setting up of the public sector undertaking is under the active consideration of the government, but nothing has been done so far”, said Mahajan.

For some Union Budget is no more a topic of discussion but to many micro, small and medium enterprises (MSME) it remains a matter of concern. (KNN Bureau)