The Hindu Business Line : Tuesday, March 01, 2005

In agriculture, we shall enhance public and private investment in the infrastructure required to support expansion, diversification and value ... More

Fertiliser subsidy hiked to Rs 16,254 cr
NEW DELHI: The Government has increased the planned allocation on account of fertiliser subsidy. The Budget has proposed to allot Rs 16,254 crore for subsidising fertiliser to the farmers for fiscal 2005-06, which is substantially higher ... More

Foodgrain sector has little to savour; export subsidy plan may be non-starter
THERE is nothing in the Union Budget for the grain trade, including export. With a paltry Rs 0.01 crore being allocated towards the foodgrain export subsidy, it is clear that the much awaited `WTO-compatible' subsidy policy, mooted by the ... More

Cash withdrawal levy may hit farm sector
OVERALL the Budget has nothing much in favour of spice industry in particular, despite the fact that it is passing through a crucial time as farmers and the domestic traders have grievances against the liberalised policy of free fall import from ... More

FLORICULTURE

Bloom time for floriculture sector
THE doubling of customs duty on cut flower imports from 30 per cent to 60 per cent is likely to benefit the growers of orchids and chrysanthemums, as the increased levy is expected to curb the imports at cheaper prices. Florists mainly in ... More

PLANTATIONS

A few things to cheer for plantations
THE Union Finance Minister, Mr P. Chidambaram's decision to withdraw the additional excise duty of Re 1 per kg on tea is expected to help the sector to reduce the cost of production, making it a little more cost-competitive in the global ... More

RUBBER

Spurt in spot rubber rates
KOTTAYAM: The last day of February witnessed another spurt in spot rubber prices as covering groups and purchase agents continued to procure the narrow arrivals. The absence of selling from dealers and firm overseas markets added fuel to ... More

SUGAR

Sops for textiles and sugar
IN the last Budget, I made a beginning in addressing the tax-induced rigidities in the textile sector in order to prepare the sector for the post-quota regime. There is a new vigour in the sector, especially in the handloom and powerloom ... More

Duty on molasses to cost mills extra Rs 200 crore
THE 2005-06 Union Budget decision to double the excise duty on molasses to Rs 1,000 per tonne will cost the sugar industry an extra Rs 200 crore on an annual basis. Sugar mills in the country crush on an average 180 million tonnes (mt) of ... More

Structural issues not addressed
THE sugar industry is once again the beneficiary of Government support, this time in the form of a financial package for its revitalisation handed in by Mr P. Chidambaram in his latest Budget. Simply put, more funds at reduced cost will flow to ... More

Excise duty on molasses `retrograde'
THE Finance Minister's decision to considerlooking into the problems of the sugar industry is welcome but the sharp increase in the excise duty on molasses will hit the industry very deeply. It is a highly retrograde step. Today 50 per cent of ... More

More sweet than bitter
IT is a bittersweet package for the players in the sugar industry. The announcement of a new package to reschedule outstanding loans and allow sugar companies to access fresh debt at competitive rates of interest will provide a fillip to ... More

OILSEEDS & EDIBLE OIL

Excise duty on refined oils, vanaspati goes
TWO years after its imposition, the Finance Minister, Mr P. Chidambaram, in his 2005-06 Budget proposal, has abolished excise duty on manufacture of refined edible oils (Rs 1,000 a tonne) and vanaspati (Rs 1,250 a tonne). Although the revenue ... More

Oil marketers not enthused
WHILE the stock markets celebrated the Finance Minister's announcements on customs duty cuts on crude oil, petrol, diesel, cooking gas and kerosene, the oil industry was busy counting its losses. The oil refining and marketing companies plan to ... More