Industry chamber CII today called for the government to provide tax incentives on agricultural activities in the forthcoming Budget to encourage private participation and adoption of new technologies in the sector.

“CII has recommended encouraging private sector participation through various tax measures (in agriculture),” the industry chamber said in a statement.

It said that additional tax incentives need to be given on expenses incurred on new technology and inputs.

CII also said the government should incentivise best crop raising practices, soil testing, residue analysis and diagnostics. According to the government’s advance estimates, the output of the agriculture and allied sectors is likely to grow by 5.4 per cent in 2010-11, compared to just 0.4 per cent in 2009-10.


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Category : Income Tax (28066)
Type : News (13868)
Tags : Government Policy (2035)

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