Industrial development backbone of Indian economy: Giriraj Singh

Ludhiana, February 14, 2015: Industrial development is the backbone of Indian economy and we should follow the principle “Make In India” as advised by Prime Minister Narendra Modi, to make the India self sufficient, said Giriraj Singh, Union Industry Minister and Rajinder Bhandari, Vice Chairman, Planning Board (Punjab) in a yesterday evening’s meeting of BJPs top brass held at Circuit House here.

Ashok Kumar Juneja, Advocate and Convenor of Economic Cell BJP, Punjab said that for progress of MSME Industry, the interest rates be cut and reduced to 11% p.a. by all banking and financial institutions as well as cheaper lands should be provided for new industry and expansions of existing units. Agro-based units such as plywood industry which use Safeda and Poplar for manufacturing ply and board be exempted from excise duty. When farmers in Punjab can be given subsidised electricity rates then why these cannot be cut and reduced for Punjab`s industry.

Juneja who is also President of Punjab Tax Bar Association (PTBA) further said that till GST become operational, multi-tax system be reduced to 3 or 4 kinds of taxes and income tax rates be cut down to maximum 25% in the forthcoming budget.

Shakti Sharma, Chairman PSIEC suggested measures for smooth running and central help for MSME.

Sunil Moudgil and Pushpinder Singhal, General Secretaries, BJP highlighted that in the forthcoming Municipal Corporation elections BJP would make landslide victory.

M.M. Vyas, Former Chairman of LIT and Banwari Lal, office bearers BJP expressed that there is need for self introspection that how we can lead BJP to top level.

Sunita Aggarwal, Senior Deputy Mayor, R .D. sharma, Deputy Mayor, Harish Tandon, Vice President, Bhupinder Kaur, Secretary, Gurdeep Singh, Neetu, B.C. Kapila and others were among those present.