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| Agriculture made a tax free sector: Rather | | Farmers to get bank credit upto Rs 1 lakh without mortgage | | early times report
Jammu, Apr 8: Underscoring the significance of Agriculture in socio-economic emancipation of the society, the Minister for Finance and Ladakh Affairs, Abdul Rahim Rather today said that agriculture in the state has been made almost tax free sector.
Speaking at a function organized by the Jammu and Kashmir State Advisory Board for Development of Kissans at Vikas Bhawan, Jammu to extend gratitude to Rather for presenting a farmer-friendly budget for the 2nd consecutive year, the Minister said soups worth Rs 20 crore in the form of VAT and Service Tax exemption on various agriculture inputs and implements have been extended to the farm sector to make agriculture a viable lucrative and profitable commercial activity.
Rather said that the government has taken a conscious decision to make agriculture sector tax free in a bid to increase its contribution in the overall GSDP, which at present is comparatively not upto the mark. He said after exemption of toll tax on agriculture inputs and implements, now VAT has also been exempted in current year's budget. "Banks have been directed to improve credit deposit ratio viz agriculture and allied sectors", Rather said adding that small and marginal farmers having Kissan Credit Cards (KCC) can now avail loan facility upto Rs 1 lakh without any mortgage.
Speaking on the occasion, the progressive farmers demanded incentives and subsidies for popularizing green house technology including shade net houses, market support for Basmati Rice, establishment of Gal Board, desilitation of kanals mechanically, availability of imported semen for dairy development, establishment of Span Development Laboratory Mushroom cultivation. |
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