State govt answerable to PlanComm for performance: J&K FM

Ahead of the state Budget, Jammu and Kashmir Finance Minister Abdul Rahim Rather today said revenue generation has to be kept in mind while seeking concessions and incentives from the Centre as the state is answerable to the Planning Commission for its performance.
After holding a series of pre-Budget consultation meetings with the stake holders at Srinagar, the Minister today initiated two days Pre-budget Consultations at Jammu.
He said while seeking concessions and incentives, the aspect of revenue generations has also to be kept into consideration, which he said, was imperative for the overall growth of economy and development of the state.

"After all the (state) government is also answerable before the Planning Commissioner of India for its performance with regard to resource mobilisation," Rather said today.
The state's planned outlay for both this fiscal and the previous one stood at Rs 7,300 crore.
Rather said that the Pre-Budget Consultations is a joint exercise between the stakeholders and concerned Govt agencies for drawing broader outlines of a blue print for pragmatic and people friendly budget that could satiate political, economic and social aspirations of the people.

The main Associations which called on the Finance Minister during these meetings included 26 members delegation of Chamber of Commerce and Industries Jammu led by its President Y V Sharma, CII delegation headed by President Anil Mahajan, Traders and Retailers Federation Jammu, Federation of Industries Jammu led by its Secretary General Virender jain, among others.

Rather said that the exercise of Pre-Budget discussion has proved very beneficial so far adding that Govt intends to further broad base the course of interactions with the stake holders to make business procedures easier for them.
Computerisation of Commercial Taxes Department is also a step towards removing hardships of the Trade and Industry adding that e-filing of returns would go a long way in minimizing interface between dealers and employees of the Commercial Taxes Department, he added.
He said the ultimate objective and idea of Internet usage in Commercial Taxes department is to make things easy for trade and industry adding that the system is yet in infancy which needs to be introduced slowly but steadily.

The Minister also assured the participants in the Pre-Budget Consultation meetings that the proposed Goods and Services Tax (GST) regime, being implemented throughout the country shortly, will be introduced in the State after taking on board all the stakeholders.
He said interests of Trade and Industry shall be fully safeguarded, while implementing this biggest-ever tax reform in the state.