Comments
The Karnataka Planters' Association (KPA) which was expecting exemption for partnership firms and companies from agricultural income tax (AIT) and other reliefs from the State Government, are a disappointed lot. In the State Budget which was unveiled on Thursday, there is only a partial mention of debt relief and that too by coffee growers who had borrowed through agriculture co-operative societies.
The Chief Minister Mr B. S. Yeddyurappa in his Budget presentation said, “In order to solve financial problems of coffee growers in the State, the ‘Coffee Debt Relief Package 2010' is being implemented. An amount of Rs 20 crore has been sanctioned to meet 50 per cent to 75 per cent of the financial implication of this package in the districts of Chikmagalur, Hassan and Kodagu.” Welcoming the minor assistance offered to the coffee growers, Mr Sahadev Balakrishna, Chairman, The Karnataka Planters' Association, said, “We welcome the Rs 20 crore assistance to the co-operative banks to meet the financial implications of the coffee package which is under way. This will help in the speedy dispersal of any pending settlements.”
VAT
The coffee growers get relief by way of reduction in value added tax (VAT) from 12.5 per cent to 5 per cent for generators below 15 kvA. “This reduction in VAT rates for generators and along with the large outlay towards creation of energy infrastructure will go a long-way in solving the state's power crises, said Mr Balakrishna. The coffee growers are looking forward to the development and upgrade of all State highways which would result in better and speedier connectivity to the plantation belt. “This will result in better and speedier connectivity both to the market and to the port and this has been partially addressed in the State budget,” said Mr Marvin Rodrigues, Vice-Chairman, Karnataka Planters' Association. Few subjects like the Rs 25-crore package for development of Kodagu District, Rs 1 lakh subsidy on areca peeling machines and other developmental schemes, will benefit the Malnad region of Chikmagalur, Kodagu and Hassan districts, he added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.