Agricultural body CII has asked to allocate higher funds and incentives for the sector in order to boost export and accessibility of food and agro products.

CII raised inability to compete in the international market even we have granaries filled, in the pre-budget meeting with Ministry of Finance, GoI. It also sought ways enabling the sector to part a competent space in international market.

‘While the Ministry of Food Processing Industries has taken up the execution of the ‘TOP’ scheme for effective implementation of the scheme under the cluster approach necessary allocations should be made in the Union Budget 2021-2. Low interest finance and other benefits of SAMPADA scheme of Food Processing ministry should be made available outside Mega Food parks too in order to create a level playing field for the food industry’, the CII said.

As announced in the 2018-19 Union Budget, there is a need to expedite the establishment of a Bank/Financial Institution for the food processing industry.

‘Stating that the RoDTEP (Remission of Duties or Taxes on Export Products) Scheme will replace MEIS (Merchandise Exports from India) Scheme with effect from 1 January 2021, the industry body said rates have to be finalized in a way to make exports competitive. RoDTEP rates for food and agri products be benchmarked appropriately to ensure the competitiveness of exports’, it added.

CII demanded increases in the revenue expenditure incurred on notified agricultural projects under section 35CCC of Income tax Act.

There must be a provision for registration of all the existing warehouses with Warehousing Regulatory Development Authority and for issuance of electronic e-slip of the registration at every warehouse.

CII asked to formulate ‘Citrus board’ and Branding and market development board and sought fund allocation for the same in upcoming budget.

The budget is coming soon, ministries are on the round for the formulation.

 

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