Anand: The dairy industry has high expectations from the upcoming Union Budget. As millions of households are dependent on this vital sector, the industry is demanding for higher allocations from the government.
Echoing the demand, R.S. Sodhi, Managing Director of Amul said, “In the previous budget the allocations were only Rs 2,900 crore. This year, we expect Rs 45,000 crore”.
Animal husbandry, which is a major economic activity in rural areas, contributes around 4.6 per cent to India's Gross Domestic Product (GDP). They demand a similar share in budget allocations.
"Just like agriculture, dairy farming should also be exempted from filing the ITR or paying income tax", Sodhi added.
He also said that the recent corporate tax cut to 25 per cent has not reached companies like Amul and they continue to pay 35 per cent of corporate tax.
Sensing anguish, especially among the rural areas, India decided to not to join the mega trade deal Regional Comprehensive Economic Partnership (RCEP).
Sodhi is of the opinion that importing milk powder from outside India is not good for Indian farmers and the local dairy industry.
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