'Resource mobilisation must for good finances'

Jammu, Nov 30: Emphasising on resource mobilisation to improve the financial health of the state, Jammu and Kashmir Minister for Finance, Law and Planning Tariq Hamid Karra today said the government is focusing on rationalising the tax structure and widening its base.

For this, imparting awareness among traders and the consumers about Value Added Tax (VAT) is also necessary, he said.

Speaking in a pre-budget meeting here attended by representative of various industrial, trade, and transport companies, Mr Karra said efforts are on to prepare a pro-poor and entrepreneur-friendly budget.

The budget would boost industrial activities in the state, he said.

Extension and promotion of industries is vital both for increasing gross Domestic Product (GDP) and creating employment opportunities for skilled as well as non-skilled classes.

Mobilisation of resources and effective tax collection mechanism would be put in place to achieve long term goal of making the state self reliant, Mr Karra said adding that vibrant economy not only helps in boosting infrastructure but also proves instrumental in containing unemployment and backwardness.

During the meeting, the minister also assured consideration of the demands put forth by the participant representatives.

He appreciated their valuable suggestions regarding making the budget more pragmatic.

The meeting was attended by the Minister of State Finance Prem Sagar Aziz, Commissioner Secretary Finance B B Vyas, Commissioner Excise Abdul Hamid, Commissioner Sales Tax Bashir Ahmad and Special Secretary Finance Yadullah.

UNI