JAMMU: The Jammu and Kashmir government would make requisite policy interventions to ensure conducive environment for the industry and give a fillip to the economic growth, a state minister said today.
“There is a strong need for rationalisation and efficient procedural changes to enhance revenue generation capacity of the industrial sector in J&K,” Minister for Finance Haseeb Drabu said while speaking at an interactive session with stakeholders to discuss issues related to the proposed Excise Policy here.
Commissioner Secretary Finance, Navin Kumar Choudhary, Excise Commissioner, Tsering Angchok and other senior officers of Excise Department were present in the meeting.
Drabu said requisite policy interventions would be made to ensure conducive environment for industrial growth.
Drabu said while envisaging the new policy, the government contemplates to incorporate ideas of stakeholders so that requisite systematic changes are introduced for giving a fillip to the economy of the state.
He said necessary mechanism will be put in place to make the system more transparent and hassle-free adding that while government will play its role as a regulator to enforce proper check on the quality and quantity of the product that reaches the market, every effort will be made to minimise the touch-points between the department and the industry to make the process less cumbersome.
“With minimum interventions a better industry friendly interface would be developed that would boost the local industry,” the Minister maintained.
The Minister said that governments priority is to ensure quality of spending and making effective changes for improving the revenue generating capacity of the sector keeping in mind the long term perspective goals for achieving tangible results and improving the economy.
He stressed on maximising investment in local industries and asked for rationalisation and re-examination to check economic viability of the projects in any sector and take adequate steps for moving towards consolidation process to ensure better revenue generation.
Finance Minster also exhorted upon the associations to fulfil their corporate social responsibility and asked them to contribute for setting up de-addiction centres. He said that this initiative would not only strengthen the social cause but also help change social perception about the liquor sector.
The stake holders from all sections of the trade i.e manufacturers/ distilleries owners/ wholesale traders/ bottling plant owners/ breweries owners and retailers association were participated in the discussion.