In the pre-budget meet, the Farmers Union told the MF that the subsidy given to the companies in the name of the farmers should be given directly to the farmers in the form of Direct Benefit Transfer.
Finance Minister Nirmala Sitharaman (File Pic)
Budget 2023-24: Finance Minister Nirmala Sitharaman (Finance Minster Nirmala Sitharaman) The third pre-budget meeting on Tuesday regarding the upcoming budget (2023-24) (Pre-Budget Meet) Of. In this meeting, the Finance Minister discussed with the agri experts and stakeholders of food processing. In the meeting, the Bharatiya Kisan Sangh demanded that either the farmer should get the benefit of input tax credit or the input material of the farmers should be excluded from GST. Along with this, it was also discussed that the subsidy given to the companies in the name of farmers should be sent directly to the farmers in the form of Direct Benefit Transfer (DBT). Earlier on Monday, the Finance Minister had the first meeting with industry veterans and experts on infra sector and climate change.
— Ministry of Finance (@FinMinIndia) November 22, 2022
Talks on increasing the budget for inter-linking of rivers
In this meeting, the Finance Minister held talks with agriculture experts and representatives of the agri-processing industry for the Budget 2023. In the meeting, talks were also held on increasing the budget for inter-linking of rivers for irrigation. Apart from this, there was also discussion on bringing crops like tea, coffee, spices, rubber and coconut under the Ministry of Agriculture.
In this meeting chaired by Finance Minister Nirmala Sitharaman, it was discussed that the budget should be increased for the research of cow and goat in the Organic Agriculture University. Along with this, those farmers who use green energy should be encouraged, the limit of Kisan Credit Card (KCC) should also be increased. Not only this, KCC card can be used as FSSAI license and natural and organic farming should be increased.
Basic infra industry demands tax rationalization
Earlier, in the meeting held on Monday with Finance Minister Nirmala Sitharaman before the budget, the Basic Infra Industry has demanded rationalization of GST, easing of bank loans and increase in public expenditure. Industry body Cellular Operators Association of India (COAI) also demanded reduction in duties and taxes in the telecom sector before the Finance Minister amid the implementation of 5G network and services.
Finance Minister Nirmala Sitharaman will meet experts from education, health, water and sanitation sectors apart from service sector and trade organizations on 24 November and a pre-budget meeting with state finance ministers will be held on 25 November.
In the next year’s budget, the government will need to solve the problem of high inflation and take steps to stimulate demand, generate employment and bring the economy on the path of economic growth of more than eight percent. This is Finance Minister Nirmala Sitharaman’s 5th and last full budget before the general elections to be held in April-May in 2024.