Jammu, Jan 28: The Federation of Indian Chambers of Commerce & Industry (FICCI), Jammu, has submitted a detailed set of pre-budget suggestions to Chief Minister Omar Abdullah, seeking focused policy support to revive industry, commerce, tourism and allied sectors in the Union Territory of J&K.
In its representation during the pre-budget consultations, FICCI Jammu emphasised that industry, the backbone of economic growth, has remained neglected over the years, particularly local entrepreneurs who form the permanent economic base of the UT. The Chamber urged the government to prioritise local industry while simultaneously attracting outside investment.
Among key industry-related demands, FICCI called for incentives to be extended to both new and existing units undertaking substantial expansion. It sought enhancement of interest subsidy on working capital to 10 years with a ceiling of Rs 30 lakh per year, as against the existing five years and Rs 20 lakh cap. The Chamber also demanded extension of the turnover subsidy from five to ten years with full and timely disbursement, citing patchy implementation so far.
