The Impressive TimesNew Delhi/Chandigarh, July 11, 2024 : Union Minister of State for Railways and Food Processing, Ravneet Singh Bittu, met with Union Finance Minister Nirmala Sitharaman to address crucial issues concerning Punjab. During their extensive discussions, Bittu sought special incentives for the border districts of Punjab, akin to those provided to Jammu and Kashmir, and advocated for additional support for the state’s industry and farmers.
In the marathon meeting held late last night, Bittu emphasized the importance of prioritizing Punjab’s demands due to its status as a border state. He specifically requested special incentives for the border districts of Amritsar, Ferozepur, Gurdaspur, and Tarn Taran to boost investment and employment opportunities, similar to the incentives given to Jammu and Kashmir and Northeastern states.
Bittu urged the reintroduction of the flagship Credit Linked Capital Subsidy Scheme (CLCSS) with a threshold limit of ₹1 crore, highlighting the need for effective schemes to support MSMEs in achieving technological advancements. He also suggested increasing the limit under the Prime Minister’s Employment Generation Programme (PMEGP) to ₹1 crore, citing the recent rise in capital costs.
The minister proposed an amendment to the freight subsidy criteria to cover MSMEs in Punjab, noting that transportation costs to the nearest port are significantly higher for land-locked states like Punjab compared to coastal states. He pointed out that states such as Jammu and Kashmir, Himachal Pradesh, parts of Uttarakhand, and West Bengal currently enjoy transport subsidies ranging from 50 to 90 percent.
Bittu also advocated for reducing the GST on bicycles to 5%, aligning it with the rate for e-bicycles. Additionally, he called for the commencement of operations of the Refrigeration Unit near Sri Guru Ram Dass Jee International Airport in Amritsar to boost food exports from Punjab. The unit, installed years ago, remains non-functional and its activation would benefit Punjab and neighboring states.
Further, Bittu pushed for a “Farmer Entrepreneur Initiative” and special incentives for the agro-based MSME and food processing industries. He suggested lower interest rates, collateral-free loans, and CGST relaxations to help Punjab farmers establish food processing industries, thereby generating employment in the border state. He also sought a waiver for farmers with land holdings up to five acres, the establishment of soil testing labs for the Majha, Doaba, and Malwa regions of Punjab, and a special package for R&D at Punjab Agricultural University, Ludhiana.
Bittu reported that Finance Minister Sitharaman listened attentively and assured him that Punjab would receive significant representation in the upcoming budget.
No Comments: