Monday, November 29, 1999

Spl package for Himachal & U`khand stays, says Sharma

News posted by www.newsinfoline.com

Commerce minister Anand Sharma cleared the air on Saturday over the status of the special industrial package given to Himachal Pradesh and Uttarakhand in 2003, saying it has not been withdrawn. He also said Punjab and Haryana were exaggerating the losses caused to them by the package to Himachal Pradesh as there was very little impact of the tax holiday on the two bigger neighbours."The industrial package to Himachal and Uttarakhand has not been withdrawn but for the sunset clause, which ended the excise exemption. Other incentives like income tax holiday, capital subsidy and transport subsidy continue," Sharma said in Shimla.The NDA government had granted an industrial package to the two hilly states for 10 years, which provided 100% excise duty exemption too. It was later curtailed to March 2010. Himachal had been pushing for an extension till 2013. Sharma, who hails from Himachal, disagreed with Punjab and Haryana's claims that there was a flight of capital to the hill state. "We have taken other steps to promote trade and industry in both Punjab and Haryana, like linking these states with the Delhi-Mumbai Industrial Corridor," he added.

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