KTA advocates for business stimulus package in J&K Budget

Srinagar, Jan 27: As anticipation builds for the upcoming budget presentation in Parliament by Finance Minister Nirmala Sitharaman, the Kashmir Trade Alliance (KTA) has voiced its concerns and expectations for a robust business stimulus package.

In a statement, Aijaz Shahdhar, the President of KTA, emphasised the challenging situation faced by the business community, citing a current economic slump. Shahdhar expressed high hopes for the forthcoming budget, stating, "We have high expectations from the budget to be tabled in Parliament."

One major concern highlighted by Shahdhar is the issue of Non-Performing Assets (NPAs) affecting the business community. In response, KTA urged the government to implement a comprehensive policy to address and mitigate the impact of NPAs on businesses.

Addressing specific issues, Shahdhar emphasised the need for amnesty for commercial power consumers and the amnesty for traders on  Goods and Services Tax (GST) demands which were raised post-implementation of GST in J&K. These, he believes, are crucial steps to alleviate financial burdens on the business sector.