agriculture

The five major Regional Plant Quarantine Stations have been fully equipped to perform their function of preventing the introduction of any insect, fungus or other pest, which is or may be destructive to crops, to facilitate safe global trading in agr Full Article

Some banks have sought clarification in respect of classification of working capital limits granted to borrowers engaged in agricultural and allied activities and to food and agro-based processing units by way of export credit, under priority sector. The issue has been examined and it is clarified that loans granted by RRBs for agricultural and allied activities are eligible for classification under priority sector, irrespective of whether borrowing entity is engaged in .. Full Article

Project import status at a concessional customs duty of 5 per cent with full exemption from service tax to the initial setting up and expansion of Cold storage, cold room including farm pre-coolers for preservation or storage of agriculture and related sectors produce; and Processing units for such produce; Full Article

The Discussion Paper has envisaged a model of dual GST which has got certain structural defects that need to be pointed out for correction before the second Paper comes out. The proposed GST is an under achievement compared to the professed idea of a conceptually correct GST. It is an imperfect GST which has four rates with probably numerous exemptions, four thresholds, several taxes outside GST, a highly complicated system for inter-State credit of input tax and finally.. Full Article

In view of large increase in credit to the Commercial Real Estate (CRE) sector over the last one year and the extent of restructured advances in this sector, it would be prudent to build cushion against likely non-performing assets (NPAs). Accordingly, it has now been decided to increase the provisioning requirement for advances to the CRE sector classified as ‘standard assets’ from the present level of 0.40 per cent to 1.00 per cent. Full Article