Budget fails to cheer industrialists, farmers

Tribune News Service

Jammu/Srinagar, February 1

The Union Budget-2019, announced on Friday, failed to impress industrialists, traders and farmers of the state. 

They described it as “merely a statement of achievements made by the Narendra Modi-led government in the past five years”. They believed that there was nothing state-specific in the Budget and the Centre has failed to address their core issues. 

“In the past, there used to be some Kashmir-specific announcements but this time there was no mention at all. We raised the issue of GST exemption for Kashmiri handicrafts, but to no avail,” said Sheikh Ashiq, president of Kashmir Chamber of Commerce and Industry. 

Rakesh Gupta, president of Jammu Chamber of Commerce and Industry, said there should have been some relaxation in the GST wherein services were being taxed as highest as 18 per cent. 

“The announcement of no income tax up to Rs 5 lakh is just a honey trap as it has been linked to a particular section in the Act and shall not be a permanent relief.”

Mohammad Yaseen Khan, chairman of Kashmir Economic Alliance, termed it a “political budget” to appease the voters before the elections....there is nothing for the business community. 

Chamber of Traders’ Federation, Jammu, Neeraj Anand said though the overall Budget appears to be good, it has neglected the trading community.