Punjab CM seeks tax exemption on farm products, raise on MSP
NEW DELHI: Punjab Chief Minister Prakash Singh Badal sought exemption of excise duty on farm machineries and interest free short term crop loans to small and marginal farmers.
Ahead of General Budget, Badal met the Union Minister of Agriculture, Radha Mohan Singh and demanded income tax exemption to those engaged in agriculture, diary, fisheries and other subsidiary activities besides raising the support of farm crops by 50 per cent of the production cost.
“Agriculture and agriculturists are in a bad shape today. We have sought several measures including implementation of the BJP party’s election promise on MSP issue,” said Badal.
He also added that the centre should procure crops like maize and provide fiancancial assistance to encourage crop diversification in the state.
He further demanded that “exemption of payment of central excise on all agricultural implements including combine harvesters and their parts should be recommended to the Ministry of Finance.”
The Punjab Chief Minister also asked the centre for capital infusion to state cooperative banks of Rs 150 crore and to revise norms for relief for crop damage due to natural c