Latest Politics News and Updates: BIA urges Manjhi to facilitate rapid industrialization

Monday, September 29, 2014

BIA urges Manjhi to facilitate rapid industrialization - Times of India

Patna: The Bihar Industries Association (BIA) has urged chief minister Jitan Ram Manjhi to initiate measures for rapid industrialization in Bihar.

Interacting with the CM at Udyami Panchayat on Monday, BIA president Arun Agrawal thanked him for setting up Udyog Cabinet on the lines of Krishi Cabinet and requested Manjhi to exempt raw materials besides plants and machinery from entry taxes.

Agrawal also requested the CM to ensure effective implementation of the provisions of Bihar Finance Act, 1981, and disposal of cases related to the Act pending in different courts. Pleading for a good "set-off" facility for major industries in the state, he asserted that this would potentially improve the cash flow of businessmen.

Highlighting the hassles the budding entrepreneurs in the state have to face, Agrawal said though the government has made provisions for helping the entrepreneurs as per norms laid under Industrial Incentive Schemes of 2006 and 2011, still the businessmen have to go through lengthy procedure that is time taking. Regarding the reimbursement of VAT, he said it should be done online on quarterly basis.

Bringing the issue of refund of accumulated entry tax to the CM's notice, Agrawal said there was no provision of such refund in the state so far.