The Hindu Business Line : `Return tax paid by arecanut co-ops as grant'

The former President of the Central Arecanut and Cocoa Marketing and Processing Co-operative (Campco) Ltd, Mr V. Subraya Bhat, said here on Thursday that the Government should repay a part of the tax paid by the arecanut co-operatives as grant to them.

Mr Bhat said that arecanut co-operatives promptly pay tax to the Government. Some private traders avoid tax, incurring revenue loss to the Government. In such a situation, the Government should strengthen the co-operative sector by repaying a part of the tax paid by them as grant.

Mr Bhat was speaking at a function to honour three Karnataka Ministers - Mr B.S. Yediyurappa, Deputy Chief Minister; Dr V.S. Acharya, Minister for Medical Education and Animal Husbandry; and Mr B. Nagaraja Shetty, Minister for Horticulture and Fisheries - organised by Campco, the Mangalore Agriculturists Sahakari Sangha (MASS) Ltd, and the South Kanara Agriculturists' Co-operative Marketing Society (SKACMS) Ltd, and All-India Areca Growers' Association, here. Mr S.R. Rangamurthy, Campco President, who welcomed the gathering, said that the Karnataka Government's market intervention scheme helped in rejuvenation of arecanut market this year.

He said the board of directors of Campco has taken a decision to participate in the futures trading in arecanut. Mr Yediyurappa inaugurated Campco's participation in futures trading on the occasion.

Investments

To attract more investments in Karnataka, the Government has taken steps to develop infrastructure in some of the major district headquarters. The Government has been receiving a good number of proposals every day, and steps are being taken to clear them. He will tour some of the countries from April 21 to attract more investors to Karnataka.

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