KTA demands Stimulus Package, GST amnesty in upcoming Union Budget

Srinagar, July 18: The Kashmir Trade Alliance (KTA) has called for a financial stimulus package for Jammu and Kashmir in the upcoming Union budget. With the NDA government's third term beginning in June, the annual budget is set to be presented in Parliament next week.

KTA President Aijaz Shahdhar expressed high expectations from the budget, citing the challenging economic conditions in the region. "Our businesses are facing tough times, and there's a slump in the market. Post-COVID, apart from tourism, all sectors of Kashmir's economy are suffering," Shahdhar stated.

"We also seek amnesty for commercial power consumers in Kashmir in same lines domestic consumers where provided amnesty to clear pending dues, he said.

In addition to the financial package, the KTA is advocating for announcements to boost business in Kashmir. Shahdhar outlined several specific demands, including the extension of the amnesty date under the previous regime, the announcement of amnesty under the new GST regime, and the approval of revised returns.

The trade alliance's plea comes at a crucial time as the region continues to grapple with economic challenges . While tourism has shown signs of recovery, other sectors reportedly remain under strain, according to KTA.