Drabu holds discussions with trade, business bodies over nxt

Jammu and Kashmir Finance Minister Haseeb Drabu today held extensive deliberations with trade and business federations in the state and said the government would address the issues being faced by trade and tourism sectors in the state budget for 2018-19 financial year.
According to an official spokesperson, various trade and business bodies like Kashmir Traders and Manufacturers Federation, Kashmir Economic Alliance, Kashmir Chamber of Commerce and Industry and and others attended the discussion held at the Excise and Taxation Complex here.
During the meetings, Drabu invited suggestions from the trade bodies that could be incorporated into the upcoming budget for reviving the economy of the state which has suffered immensely due to natural disaster in 2014 and unfavourable socio-political atmosphere last year, he said.

Representatives of the trade and business bodies urged the minister to take steps keeping in view the September 2014 floods and the situation in 2016 which had a debilitating impact on the overall economy of the Kashmir valley, the spokesperson said.
"We are taking corrective measures and some announcements will be made in the budget to address these issues," Drabu said.
The trade bodies said the Goods and Services Tax regime has brought a positive change and reduced corruption and eased the system of filing returns.

However, they said, the tax department must organise more awareness programs and training camps so that small traders gets acquainted with the system.

"The government will leave no stone unturned in reviving important sectors like horticulture, handicrafts, tourism, and industries which are the backbone of the state economy.
"This year, there will be major intervention in power sector which will address a lot of issues being faced by various industries," Drabu said.