PHDCCI for rollback of 9 pc registration fees on new vehicles for J&K

Industry chamber PHDCCI on Wednesday has suggested to the finance ministry measures including rollback of 9 per cent registration and road tax on new vehicles and lending by banks to all SMEs, with a view to boost economic development of Union territory of Jammu and Kashmir.

These suggestions were submitted to Minister of State for Finance and Corporate Affairs Anurag Singh Thakur.

As part of its economic rejuvenation plan for the UT, the chamber has suggested to the government to declare Kashmir Valley as special economic zone, and income tax exemption for 5 years.

"To enhance the engagement of the youth population and generate employment in J&K, we suggest that time-bound single-window clearance for all projects, services, cable car projects at Shankaracharya Temple, Pahalgam, Dodpathri and Sonmarg," it said in a statement.