“GST will Not Affect Tax Rebate Over Industries”- GIS 2016

GST (Goods and Service Tax) is supposed to affect almost every sector of the country, due to which major industrialists have a fear of getting cut in their tax rebates. On which Chief Minister of Madhya Pradesh, Shivraj Singh Chouhan assured that the tax concessions over the industries will continue even after the implementation of GST.

“All policies will be executed in a time frame under the citizen charter introduced by the State Government”, he said. Chouhan attended the first ever Global CEO conclave held at Amber Convention Center to interact with CEOs.

Organised on the evening of Global Investor Summit, the event got a gracious presence of legendary industrialists of the country including Kumar Mangalam Birla, chairman of Aditya Birla Group, chairman of Hinduja Group, Shreechand Hinduja, Venugopal Dhoot from Videocon Group, Sunil Mathur from Seaman’s Group, Gopal Krishnan from Infosys, and Ms. Shobhana from Apollo Group.

Besides these spectacular personalities, Industry Minister Rajendra Shukla, Finance Minister Jayant Mallaiya, Chief Secretary Anthony DeSa and Principal Secretary Mohammad Suleman were also attended the Summit. The conclave initialised by the industrialists asking frequent questions with the Chief Minister over GST.

On the following occasion, CM detailed the economic features of the state. He stated that MP is a peace-loving state, where just a single window system is essential for setting up the whole unit. According to Chouhan, the state also has a potential for investments, and result can be seen as the industrial growth rate of the state is 10 percent and agricultural growth rate is over 24 percent.

Chauhan later added, “Our industrial policies are industry and investor friendly. We are welcoming investors and industrialists with an open heart. We keep our promises. We are disciples of Swami Vivekananda, who knew for honoring promise”

He said concerning the available land bank, “We have created a land bank of 50,000 hectares. We have urged the Union Government to make the necessary correction in-laws so that farmers can offer their land on lease to industrialists. Unit’s set-up under food processing category would get the benefit of VAT reimbursement.”

Industry Minister Rajendra Shukla said, “In terms of industrial climate, MP stands first in the country. The state government is ready to assist them in every manner. The industrial infrastructure of the state is favorable for setting up of units here.”