Read on the app
The Pesticides Manufacturers and Formulators Association of India (PMFAI) on Wednesday demanded that the government should reduce the current 18% GST on pesticides to 5% in the upcoming Budget in line with other agricultural products like seeds and fertilizers. Besides, the government should increase the duty drawback (export benefit) of pesticides from the current 2% to 13%, besides raising import duty on technical and formulated pesticides to protect the domestic agrochemical industry, PMFAI said in a statement.
Indigenous products can be encouraged under the Make in India program
PMFI urged the government to extend financial assistance and other development support for developing technologies for intermediate and technical grade pesticides indigenously under the Make in India programme. PMFAI represents over 200 small, medium and large-scale Indian pesticide manufacturers, formulators, and traders. It has presented four demands in the representation submitted to the Ministry of Fertilizers and Chemicals.
Budget 2021-22: Government will have to give additional funds and incentives to the agriculture sector
PMFI President Pradeep Dave said that GST reduction will help bring three-fourths of the total farmers in India (who are currently out) on board, farmers can protect their crops without causing any loss to the central exchequer. This will help farmers harvest crops with minimum losses and better returns. Agriculture is the only sector that has shown resilience in the last quarter and has grown by 3.5-4%. Considering the current economic scenario, it calls for special attention and support for the sustainable development of Indian agriculture.
