Demonetisation has had a 10-15% negative impact on the agricultural sector of India which is largely cash-driven. Due to the shortage of new currency in the system, farmers have not been able to purchase agri-inputs on time and at the same time the demand for pesticides has also been impacted. As most farmers are not aware of new technologies, the Government should strengthen the Agriculture Extension Activities to impart training to farmers for the adoption of new technology to improve the yield and the acceptance of new transaction methods.
Demonetisation has paved the way for cutting corporate In-come Tax rates in India in the forthcoming Union Budget for 2017-18. With a larger share of the economy captured in the tax net, the Government has greater space to lower the corporate Income Tax rates.
The Government is in an urgent need to devise a policy that should benefit farmers and the poor in India. This is already evident from the Pradhan Mantri Garib Kalyan Yojana announced by PM Narendra Modi. The budget for 2017-18 might see a number of welfare measures and pro-poor and farmer schemes which could see a surge in the Central Government’s social expenditure.
Denne historien er fra January 16 - 31,2017-utgaven av Bureaucracy Today.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra January 16 - 31,2017-utgaven av Bureaucracy Today.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på