Highlights

  • Body urges the Union Finance Minister to reduce import duty on crop protection chemicals
  • ACFI also demanded that the GST on crop protection chemicals should be brought down to 5% as in the case of fertilisers

Latest news

India sends 4th IAF aircraft to Turkey with relief materials, medical team, relief equipment

India sends 4th IAF aircraft to Turkey with relief materials, medical team, relief equipment

Sidharth Malhotra-Kiara Advani wedding: First pics are out; couple seeks blessings

Sidharth Malhotra-Kiara Advani wedding: First pics are out; couple seeks blessings

OnePlus 11 is launched in India at ₹56,999

OnePlus 11 is launched in India at ₹56,999

 OnePlus Pad Announced at Cloud 11 Event!

OnePlus Pad Announced at Cloud 11 Event!

OnePlus launches OnePlus 11R at the Cloud 11 event

OnePlus launches OnePlus 11R at the Cloud 11 event

Budget 2023: Here's what Agro-chemicals industry body ACFI wants

The ACFI is an industry body representing manufacturers/ importers of technical and formulation of pesticides at the pan-India level

Budget 2023 Agro Chem Federation of India (ACFI) has demanded that the government should cut import duty on crop protection chemicals in the upcoming budget and also provide fiscal incentives to private players for undertaking research.

Budget 2023 for agriculture

The ACFI is an industry body representing manufacturers/ importers of technical and formulation of pesticides at the pan-India level.

"India presently has no choice but to import to ensure that Indian farmers are not deprived of new technological crop protection solutions," ACFI Chairman Parikshit Mundhra said in a statement.

He urged the Union Finance Minister to reduce import duty on crop protection chemicals.

Mundhra demanded that there is a need to provide fiscal incentives to private sector players to undertake research and development in the agriculture sector in association with KVKs (Krishi Vigyan Kendras).

ACFI also demanded that the GST on crop protection chemicals should be brought down to 5 per cent as in the case of fertilisers.

The Federation said that the current GST of 18 per cent on the chemicals is not in the interest of small and marginal farmers as they have to shell out more money to purchase the crop protection chemicals.

On budget demand, RG Agarwal, Chairman of agrochemical firm Dhanuka Group, said the government should provide some incentive to help farmers in faster adoption of technology.

"Government has been promoting the usage of technology in the agriculture sector in a big way over the last few years. Needless to say, the adoption of precision farming and sustainable agriculture practices will go a long way in enhancing crop yield, lowering cost, and improving soil conditions," he said.

The adoption and implementation of the best practices need to fasten and towards this end, it would be imperative for the government to provide some financial incentive to farmers, which will encourage them to embrace technology, Agarwal said.

Up Next

Budget 2023: Here's what Agro-chemicals industry body ACFI wants

Budget 2023: Here's what Agro-chemicals industry body ACFI wants

Budget 2023: Real estate sector, homebuyers' expectations

Budget 2023: Real estate sector, homebuyers' expectations

The India Story | Union Budget 2023: key takeaways

The India Story | Union Budget 2023: key takeaways

Budget 2023: Smoking to get more expensive

Budget 2023: Smoking to get more expensive

Budget 2023: Insurance stocks tank

Budget 2023: Insurance stocks tank

Budget 2023: switching to new tax regime not necessary, says FM; elaborates on personal I-T changes

Budget 2023: switching to new tax regime not necessary, says FM; elaborates on personal I-T changes

More videos

Budget 2023: Here's a list of 5 big key takeaways

Budget 2023: Here's a list of 5 big key takeaways

Finance minister explains four key points of Union Budget 2023

Finance minister explains four key points of Union Budget 2023

Budget 2023: The big numbers

Budget 2023: The big numbers

Budget 2023 | Explained: tweaks to the personal tax regime

Budget 2023 | Explained: tweaks to the personal tax regime

Budget 2023: What's cheaper, what's costlier? Cigarette, phone, TV, electric car parts duties changed

Budget 2023: What's cheaper, what's costlier? Cigarette, phone, TV, electric car parts duties changed

Union Budget 'not futuristic', 'anti-people': Mamata Banerjee

Union Budget 'not futuristic', 'anti-people': Mamata Banerjee

Budget 2023: PM Modi calls it a budget for the aspirational society

Budget 2023: PM Modi calls it a budget for the aspirational society

Opposition leaders criticise Union Budget 2023, say it doesn't address key issues

Opposition leaders criticise Union Budget 2023, say it doesn't address key issues

Budget 2023: No income tax upto ₹7 lakhs slab for the new regime

Budget 2023: No income tax upto ₹7 lakhs slab for the new regime

Budget's big numbers: ₹45 lakh crore, ₹27 lakh crore, 5.9% - earning, spending, fiscal deficit estimates

Budget's big numbers: ₹45 lakh crore, ₹27 lakh crore, 5.9% - earning, spending, fiscal deficit estimates

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.