FOIJ hails SOPS offered by PM for MSME Sector                        

Newspoint Bureau

Jammu Tawi, January 02

The members of the Federation of Industries, Jammu today hailed the SOPS offered for MSME Sector by Prime Minister (PM) Narendra Modi during his address to the Nation on December 31, 2016 which included the enhancement of finance limit from one crore at present to two crore under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) and increase in the Maximum Permissible Bank Finance for Working Capital (MPBF) from 20% at present to 25% which will provide great relief to the ailing Industrial Sector of the State and an opportunity for the rapid growth of MSME Sector in future.

In a meeting held here under the chairmanship of Lalit Mahajan, Chairman in which the member appreciating the bold steps taken by Prime Minister for providing relief to MSME Sector by offering SOPS.

Federation of Industries, Jammu also appealed the Prime Minister and Union Finance Minster Arun Jaitley for the  Extension of Current Fiscal Incentives of Central Government which included Central Excise Refund, Extension of DIPP Package of Incentives and restoration of Income Tax Holidays at par with the North Eastern States  and setting up of Mother Industry in our State in the Budget proposal for the FY 2017-18, keeping in mind the future growth of MSME Sector in our State to provide Employment Opportunities to the Local unemployed youths of the State.

Others who were present during the meeting included Rajesh Jain, Vijay Aggarwal, Ajit Bawa, Romesh Badyal, Jainder Aul, (Co-Chairmen FOIJ), S B Abrol Secretary General, Ajay Langer Convener FOIJ & others.

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