JK register 44 pc growth rate against 24.4pc in other states

Srinagar, Jun 24: The Jammu and Kashmir state has registered 44 per cent growth against 24.4 per cent in other states of the country.

An official spokesman today said this information was given at the three-day 6th empowered committee meeting of State Finance Ministers.

He said the meeting attended by Finance Ministers of various states, was held to discuss threadbare various issues relating to implementation of VAT regime and the annual growth rate registered by different states.

The Chairman Empowered Committee Asim K Dasgupta said the meeting was fruitful and various issues were discussed.

He appreciated the endeavours of Jammu and Kashmir state for registering 44 per cent growth rate against 24.4 per cent in other states.

He said the state has been successful in implementing VAT despite difficult situation due to two decade long disturbances.

Mr Dasgupta also lauded the state for introducing computerization of VAT system.

The Chairman said a committee was formed to look into several issues like deviations in the collection of VAT, the committee will present its report within two months, he added.

Mr Dasgupta said the proposals putforth by the State Finance Ministers would be shared with Government of India before giving them final shape.

He also mentioned issues relating to Jammu and Kashmir state including sales tax exemption to the traders of Ladakh.

He assured that sympathetic view would be taken viz-a-viz tax rebate to the state owing to a hike in prices of petroleum products in the country.

UNI