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JAMMU, Feb 23: As per the reports, Industries & Commerce Department has signed MOUs worth Rs.2100 Cr. In Mumbai and Rs.850 Cr. in Bengaluru and Rs.2000 Cr. in Kolkata, I was to attend Mumbai Road Show which unfortunate, I could not due to health grounds. There are two main firm commandments from government side regarding future policy i.e. 1. SGST Reimbursement, which means that finished goods of industry, shone in directly having total SGST exemption.
A great decision. 2. Exemption from stamp duty. (This is a point on which I had made an exercise and effort in various High Level Meetings. The stamp duty on one Kanal of allotted industrial land present, in Jammu is 7% which calculates to Rs. 0.56 lakhs per KanaL say, for 100 Kanals it is Rs.56 lakhs. This unforeseen expense was pinching the industry and it did not exist in earlier policies. This point of mine was well taken by the government. Thanks.
On the basis of experience as three decades old Industrial Entrepreneur cum Consultant, 1 am sure that these efforts of the government shall create local employment and development in those areas where manufacturing/service sector shall come up. Broadly, as a thumb rule investment of Rs.1.00 Cr. means employment to 10 heads so it may mean direct employment as per above rule to nearly 49,500 persons. Important point to note here is that investors do not mean only outside the MK UT investors. It includes the prospective sons of the soil investors.

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