Trade bodies unhappy with budget, call for shutdown on June 4

The business community in Kashmir today described the state's budget as "more on rhetoric and less on content" and called for a traders' shutdown on June 4 to protest against it.
The budget was discussed at a joint meeting of the Kashmir Chamber of Commerce and Industry (KCCI), Kashmir Economic Alliance (KEA), Kashmir Traders and Manufacturers Federation (KTMF) and Federation Chamber of Industries Kashmir (FCIK) here.
In a joint statement later, they said, "The budget has been found to be more on rhetoric and less on content, more-so, in the background of the devastation caused by the 2014 floods which caused unprecedented damage to people at large in general and trade, commerce and Industry in particular."

The trade bodies urged the business establishments to down their shutters on June 4 in protest against the budget proposals unless the government rolls back the taxes and addresses the concerns.
Presenting their objections, the trade bodies said the increase in taxes from five per cent to 14.5 per cent on consumer items like readymade garments, mobile phones, frozen food items will affect adversely both the business and the people in general.
The entertainment duty of Rs 50 per connection on satellite and cable TV would directly affect the common man, the statement said.

No tax exemption has been given for walnut wood carving products or handicraft made products like bags, cushion covers etc, the joint statement said.

The increase of five per cent tax on ATF (Aviation Turbine Fuel) would impact the "already irrationally applied air fares to Jammu-Srinagar routes and would in turn affect badly the local and tourist travel", the statement said.
The long-pending demand for Artisan Credit Card Scheme to be brought at par with the Kisan Credit Card Scheme has been ignored in the budget which is causing liquidity crunch for the artisans who are otherwise contributing in a big way to this export business of the state and foreign exchange earning of the country, it said.
The business community said nothing specific from the state has been provided to compensate or provide relief to the flood victims, leaving them to suffer indefinitely .

Removal of negative list of items being manufactured by local industries has not been addressed and waiver of interest or surcharge from power dues has not been taken into consideration, it said.