Media Monitor
Agriculture Industry
The necessity of taxing farmers’ income in Indiaedit
The New Indian Express – Online
There is a figure on the number of people who submit income tax returns, and there is a parallel figure on the number of people who pay income taxes. The latter is smaller than the former, and with a country of India’s size, both figures should be higher. Direct taxes are inherently superior to indirect taxes, and the share of direct taxes to total taxes should be higher. There are several reasons why such numbers aren’t higher, evasion being one. But there are two other reasons—exemptions and non-taxation of agricultural income. The former is part of the Union Budget, and the latter isn’t. The latter is part of State Budgets or should be. ...
Budget
BUDGET EXPECTATIONS : AGRICULTURAL SECTORedit
India Infoline – Online
Even in the first estimates of FY23 GDP released on 07ths January 2023, the projected full year GDP growth for FY23 has been pegged at 6.8% while agricultural growth has been steady at 3.5%. The government has been largely successful in pushing farm incomes higher through better minimum support prices (MSP), but there is a long way to go still. Here is what the agricultural sector expects from Union Budget 2023-24. Tax exemptions for players in the agri value chain In the entire agriculture story, it is the agriculture value chain that plays a key role and is often overlooked. Of course, one of the key items would be the rationalisation of goods and services ...
Paddy in India
Telangana govt procures record 64.30 lakh MT of paddy in Vanakalam seasonedit
Telangana Today – Online
The State government has procured a record 64.30 lakh metric tonnes of paddy worth Rs.13,750 crore from 9.76 lakh farmers in the Vanakalam 2022-23 season. The Vanakalam procurement commenced on October 21 last year and was successfully completed after 94 days. If there were any stocks left with farmers, they would also be procured till Tuesday, Civil Supplies Minister G Kamalakar said here on Saturday. In a meeting with officials here on Saturday, the Minister said due to Chief Minister K Chandrashekhar Rao’s agriculture-friendly measures, paddy procurement was registering a steady growth annually.