Krishi VaartaOutlook Agriculture
Government's big decision for farmers, people related to agriculture sector
New Delhi. The central government has decided that 2% TDS will not be deducted on cash payments of more than Rs 1 crore made by Agricultural Produce Market Committees (APMCs). This move BY government will benefit the farmers and all those associated with the agricultural sector. The government has taken this decision after the farmers faced difficulties in getting the payment of the produce.
Finance Minister Nirmala Sitharaman gave this information in a tweet. Significantly, to discourage cash transactions and move towards a cashless economy, the government had proposed 2% TDS on withdrawing cash over Rs 1 crore in the general budget.
The traders associated with APMC were buying produce from farmers, but they were having difficulty in paying cash. In many mandis, traders were also confused about the date of implementation of this rule. There were many other problems in this case. The Chief Minister of Madhya Pradesh, Kamal Nath, has welcomed this decision of the government.
Source - Outlook Agriculture, 17 September 2019
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