Srinagar, Feb 1: Welcoming the Union Budget 2023-24 with allocation of Rs 35581 crore for J&K presented by Finance Minister Smt Nirmala Sitharaman on Wednesday, February 1, PHD Chamber of Commerce & Industry Kashmir Chair Vicky Shaw hailed initiatives taken for MSMEs and, especially, for the the artisan community.
Mr. Vicky said in a statement to Ziraat Times that Kashmir has earned appreciation from all across the world for its richness in culture, heritage and art. Since time immemorial, craftsmanship and artistry have been a source of livelihood in Kashmir and we believe the announcement of PM Vishwakarma Kaushal Samman scheme will enable the Artisans of Kashmir to improve the quality, scale and reach of their products by integrating them with the MSME value chain. He further said that we are pleased to see the substantial 33% hike in the capex outlay at 10 lakh crore which is the highest ever, amount of all budgets. He also welcomed the multiple measures that will build the confidence of industry. These include the announcement of tax exemption upto Rs 7 lakhs, promotion of tourism in mission mode under PPP and selection of 50 destinations through challenge mode that will be developed as complete package, Agriculture Accelerator Fund, Digital Public Infrastructure for Agriculture, natural farming, target funding for animal husbandry, dairy, fisheries, physical libraries at Panchayat and ward levels, setup of Unity Malls for promotion of ODOP. As expected, the Government has in its Budget for 2023-24 reiterated its commitment to improving the lot of the rural economy by announcing schemes to promote the welfare of farmers, higher income for farmers and also focussing on farm and non-farm employment.
He, however, said that the people of J&K would have loved it if there were some provisions on the existing Industry of J&K. We would have loved to have some provisions on existing Industry in the Budget. The impact of Covid and other disturbances can be seen on the existing Industry of this region that has turned Sick. We are expecting now the UT Budget of J&K will address the soaring issues of the existing Industry of J&K.
