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J&K business sector upset over Union budget, traders felt ignored

Last Updated on February 2, 2022 at 10:51 am

Upset over union budget presented by Finance Minister, Nirmala Sitharaman in the Parliament on Tuesday, Jammu and Kashmir traders and business sector felt ignored.

Business sector and traders felt the budget for Union Territory far below than their expectations.   With having a lot of expectations out of the Union Budget 2022, traders thought that they will certainly have quite a few good things for them in budget but it failed to provide any good to crucial sections of small traders, industrialists and the youth of J&K.

President Chamber of Commerce and Industry (CCI) Jammu, Arun Gupta said that Budget-2022 has nothing to offer for the small traders and industrialists. Gupta further said that government has announced various benefits for the development of the country like e-passports, two years time for updating IT returns, increase in Defence budget, 80 lakhs houses under PM Awas Yojana, Master Plan for 25000 Km Expressway, 400 new generation Vande Bharat trains, Har Ghar Nal Se Jal etc. which are welcome steps, but major missing is the big announcement for marginal traders who were worst hit by the pandemic and expecting relief from the Modi Government in the form of significant SOPs or some other big relief or incentives.

Kashmir Chamber of Commerce and Industries (KCCI) president Sheikh Ashiq said that they awaited some major announcements for the revival of business sector and expected some special schemes for the local entrepreneurs. The KCCI leader said that after pandemic various sectors had been badly affected such as business, trade, tourism etc and further added thattThey had met the Union Finance Minister, Home and Industry Ministers as well requesting some relief in business losses incurred and sustain the existing business but they are feeling ignored and dejected.

Chamber of Traders Federation (CTF-Jammu) said that the budget expressed disappointment that nothing concrete has been announced for the hotel, transport and tourism sector which was hit majorly during pandemic. Federation president, Neeraj Anand said that there should have been some major relief anfd reforms for business sector which suffered huge losses during the pandemic but the budget has disappointed the business sector. “However, if we look at the long term development of the country, then the Government has taken all the necessary steps”, Anand said.