Budget turned damper for traders, tourism players

The Union Budget has failed to cheer up Jammu and Kashmir traders and stakeholders of the tourism sector.
While the Valley was hoping to hear the announcement of a flood rehabilitation package, others say the state has been ignored by the Narendra Modi-led government.
“Modi had said this Budget was his exam. However, he has failed the Kashmir exam. Even though we do not have any hope from New Delhi, the flood-affected businessmen and people continue to face neglect from the Centre,” said Siraj Ahmad, chairman, Association of Hotel & Restaurant Operators of Lal Chowk.
The city centre Lal Chowk and adjoining areas were among the worst-hit areas in the September 2014 floods.
The tourism players have also been left disappointed, especially when the development of Kashmir tourism has figured in the statements of BJP leaders in the past.
“There is nothing for us. In fact, there was no mention of Kashmir. We were hoping that our state will get some sops to boost trade and tourism, but we have been disappointed,” said Mushtaq Ahmad Chaya, chairman, J&K Hoteliers Club.
Kashmir Economic Alliance chairman Showkat Chowdhary said: “There is nothing for us, it is useless and just a drama. There is nothing in it for the traders. We were hoping that a comprehensive flood package would be announced but now we have no expectations from the Centre.”
The Kashmir Chamber of Commerce and Industry (KCC&I) was also expecting the announcement of a comprehensive rehab package for the flood-hit businessmen of the Valley.
“When we met Finance Minister Arun Jaitley in New Delhi, we brought to his notice the issues of the flood-affected traders and other rehabilitation issues. We were hoping for the announcement of a flood rehab package. We had also demanded a tax holiday for five years but the demands have not been met,” said Mushtaq Ahmad Wani, KCC&I president.
“I cannot say what exactly is there at the micro level. As far as the Budget speech is concerned, I do not think it is a progressive Budget for the industries of Jammu and Kashmir. J&K has been left out and the Finance Minister had no plan for Jammu and Kashmir,” said Anil Suri, an industrialist from Jammu.
Rakesh Gupta, president, CCI, Jammu, said: “The overall focus of the Budget was on education, infrastructure and agriculture which is good for the growth of the country. But as a representative of the trader community, we feel disappointed as the service tax will increase the price of commodities. We were expecting expansion of tax slab, which was not done, and social security to the 3 per cent tax payers of the country.”