Kashmir Inc expects sops for handicraft, tourism sectors

M Aamir Khan

Tribune News Service

Srinagar, May 29

Kashmir Inc is expecting major sops for the tourism, horticulture, power and handicraft sectors in the annual Budget which is to be presented in the Assembly tomorrow. Youths too are hoping for sops for development of entrepreneurial ventures as unemployment remains a major concern in the state.

“The tourism sector was hit hard after September, 2014, floods and major concessions should be announced for its revival. We are especially hopeful of service tax and value added tax (VAT) exemption on food items. As handicrafts exports have dipped from Rs 1,800 crore in 2013-14 to Rs 1,200 crore in 2014-15, this area too needs attention of the government,” said Kashmir Chamber of Commerce & Industry (KCCI) president Mushtaq Ahmad Wani.

Kashmir Economic Alliance (KEA) chief spokesman Siraj Ahmad said the Budget should focus on development of horticulture, tourism, power, handicrafts and floriculture sectors. “We are expecting a people-friendly Budget and it should focus on the development of horticulture, tourism, power, handicrafts and floriculture sectors,” he said.

During a pre-Budget meeting with the Finance Minister, J&K Hoteliers’ Club headed by Mushtaq Ahmad Chaya too demanded a “tax holiday” as the tourism sector, which it said was going through its “worst phase,” especially after the devastating floods.

Youths too have high expectations from the Budget. “As a student, I expect that the government should take initiatives towards development of higher education, job opportunities and entrepreneurship in Kashmir. There are not many job opportunities in Kashmir and because of such restraints students, like me, are forced to leave our homes and struggle hard for making our careers outside the Valley,” said Hisham Wani, who recently returned to the Valley after completing BCom (Honours) from Amity University.

“Youths would really appreciate if the government passes a Budget for the development of venture capital, corporate firms, institutes with placement guarantee so that we stay home and help the government to develop Kashmir and not just ourselves,” he added.

Saima Hakak, a lawyer, said she was expecting special sops for women entrepreneurs as the state was for the first time being headed by a woman Chief Minister. She said the prices of essential commodities had sky-rocketed and government should ensure that inflation was checked.