JAMMU: Deputy Chief Minister Dr. Nirmal Singh on Monday hailed the central government for extending industrial incentives to the State for a period of 10 years, which had, otherwise, stopped after implementation of Goods and Services Tax (GST) as Excise Duty had ceased to exist in the new tax regime. He also expressed gratitude to Union Minister for Industry and Commerce Suresh Prabhu for announcing the new scheme extending budgetary support as industrial incentives to Jammu and Kashmir. He also thanked Union Finance Minister, Arun Jaitly.
The Deputy Chief Minister said the extension in tax exemption would go a long way in promoting industrial growth and economic development in the State. “This is the first major incentive to industrial sector of Jammu and Kashmir and other States after implementation of the GST”, he added.