JAMMU, 26 February 2007 — Jammu and Kashmir Chief Minister Ghulam Nabi Azad has sought a special economic package for his state, including power reforms and tax exemption.
At his meeting with Prime Minister Manmohan Singh in New Delhi, Azad put forward his economic agenda during an hour-long consultations Saturday evening.
He said what the state needed most was economic development and incentives for investment as well as employment generation.
Azad called for a special package for his state in the upcoming union budget and requested for Rs.10 billion Power Reform Grants in the form of additional central assistance.
The chief minister discussed with the prime minister issues concerning his state, including the India-Pakistan peace talks. Economic issues dominated the talks, an official statement said.
He sought a five-year extension on income tax exemption for industrial units in the state as well as continuation of the 90 percent transport subsidy.
He also raised the issue of excise duty refunds available to industrial units in the state but which were being taxed under income tax. This, he said, was causing a lot of distress. The prime minister reportedly assured “full and complete support” to the state.
