The Union Budget will be presented by Finance Minister Nirmala Sitharaman on 1 February.
The PMFAI has demanded that the government should reduce GST on pesticides to 5 percent from the current 18 percent in the upcoming budget.
- January 13, 2021, 10:24 PM IST
Demand to increase import duty
In addition to this, the government has to increase the import duty on technical and finished pesticides by 20-30 per cent to protect the domestic agrochemicals industry by 20-30 per cent, besides increasing the duty drawback of pesticides (Export Benefits). Should be increased from percent to 13 percent.
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PMFAI urged the government to provide financial assistance and other development assistance for the development of technologies for indigenous intermediate and technical grade pesticides under the Make in India program. It added that representing over 200 small, medium and large scale Indian pesticide manufacturers, formulators, and traders in the country – PMFAI had four key demands, which were included in the memorandum to the Ministry of Fertilizers and Chemicals has gone.
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Pradip Dave, president of PMFAI, said, “The GST deduction will help bring three-fourth of the total farmers in India under their ambit, who are currently out. This will help these farmers to protect their crops without causing any significant damage to the treasury. This will help the farmers to take least loss and take better advantage of harvesting of crops.