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NE industry ministers seek PM’s intervention on policy issues
AGARTALA, SEPt 29 (AGENCIES):
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Published on 29 Sep. 2010 11:42 PM IST
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Industry Ministers of four Northeastern states have demanded Prime Minister Manmohan Singh’s intervention in ensuring industrial investment in the region. A delegation, comprising Meghalaya chief minister Dr Mukul Sangma, chairman of Industry and Commerce Ministers’ Forum of NE Region and Assam Industry minister Pradyut Bardoloi and his Nagaland and Tripura counterparts Dr. KC Nihoshe and Jitendra Choudhury respectively, met the Prime Minister in New Delhi Tuesday.
As advised by the Prime Minister, the delegation then met Union Finance Minister Pranab Mukherjee and Commerce Minster Anand Sharma and they assured to look into the issues to promote industrial development of the region.
Talking to mediapersons, Choudhury said three critical issues, including restoring cent percent excise duty exemption, of incentives/subsidies from income tax and exemption of business income from the Minimum Alternate Tax (MAT), were discussed with the Prime Minister who assured to look into these aspects. He said the Union Ministry of Finance had diluted the 100 per cent excise duty exemption enunciated in the Northeast Industrial and Investment Policy, 2007, by curtailing substantially and restricting it only to value addition of the raw materials, besides imposition of MAT and levying of full income tax on incentives/subsidies.
Ministry of Commerce proposed to curtail the quantum of transport subsidy up to 70% of the cost of machinery and shift the present rail head from Siliguri to the nearest goods shed.
‘’We believe all these steps have adversely affected the industrial promotion initiatives announced for the Northeastern region and to make NE competitive for industrialisation,’’ Choudhury added.

 
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