No provisions for reviving economy of flood-ravaged J&K: KCCI

Kashmir Chamber of Commerce and Industry (KCCI), the apex trade body of the valley, today described the Union Budget for 2015-16 as 'disappointing', saying there was nothing substantial in it for reviving the economy of flood-ravaged Jammu and Kashmir.
"We are disappointed and disheartened by the Union Budget as there are no provisions for reviving the economy of Jammu and Kashmir, particularly the valley, which was ravaged by floods last year," President of the KCCI Ashiq Hussain told PTI.
Hussain said the people in Kashmir were expecting a special relief package and soft loans for reconstructing the infrastructure and reviving the economy of the state.

"We were expecting at least tax holiday for the state but nothing has come out of the budget," he said.
The KCCI president, while welcoming the announcement of setting up of an AIMS hospital in the state, said the Budget did not have anything to boost tourism, horticulture and handicrafts sectors.
"These three sectors along with industry are the mainstay of our economy but there is no incentive for these sectors," he said.
Hussain said the increase in service tax would be a burden that has to be "ultimately borne by the common man".