Himachal CM seeks tax exemption for industry

Himachal Pradesh Chief Minister Jai Ram Thakur on Thursday sought full tax exemption from the central government to the industry in the state for five years and 50 per cent for the next five years.

Speaking during the pre-budget meeting of Finance Ministers here, he also demanded a provision of interest subvention of seven per cent for a period of seven years to promote industrial development in the state.

The meeting was presided over by Union Finance Minister Arun Jaitley.

The Chief Minister demanded subsidy or viability gap fund for operating flights and heli-taxi services on the pattern of north eastern states in Himachal Pradesh for assisting in tourism promotion as well as disaster management.

He said the state has enormous possibilities for expansion of tourism activities and keeping this fact in view there is a need to promote air traffic.

He suggested that the union government should make an announcement regarding expansion of helipads of all state capitals from central budget besides making budgetary provisions for expansion and construction of airports in hill states.

He said environment protection would be a priority of the state government.

Thakur suggested reducing the corporate tax rate up to 20 per cent for further industrial development.

He said entrepreneurs in the state were denied the benefits of capital investment subsidy which ended in March 2017, adding although a special committee was constituted for preparing an extensive industrial policy for the hill states yet no announcements have been made so far.

He sought continuation of the central capital investment subsidy till the new announcements were made. He also urged for restarting freight subsidy scheme and reimbursement of transport cost of about Rs 5 crore at the rate of 75 per cent.

The Chief Minister also requested to enhance import duty on apple as was announced in the union budget 2018-19 so that interests of the horticulturists were protected.

--IANS

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