The Hindu Business Line : Upasi welcomes tea fund

While hailing the allocation of Rs 100-crore towards the Special Purpose Tea Fund, the Upasi President, Mr E.B. Sethna, declined to comment further without knowing the finer details and conditionalities of the package.

The association, he said, had advocated setting up of a plantation fund, exclusion of plantation from cash withdrawal tax, abolition of FBT, extension of time to coffee growers who could not avail themselves of the Coffee Relief Package, extension of time for concessional import tariff to certain machineries used by the plantation sector. But these are plantation-specific issues, he said, adding that the Government would probably address these issues separately.

He welcomed the cut in the interest rate on farm loans and hoped that it would be extended to the plantation sector as well.

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