Inheritance tax could nullify the progress India made in last 10 years: Nirmala Sitharaman
The finance minister criticised the Congress party for allegedly advocating the inheritance tax.
Finance Minister Nirmala Sitharaman on Saturday said that the Centre has encouraged states to adopt three central model laws on agricultural land leasing, marketing and contract farming.
“We will encourage state governments who implement following model laws- Model Agricultural Lan Leasing Act of 2016, Model Agricultural Produce and Livestock Marketing Act of 2017, Model Agricultural Produce and Livestock Contract Farming and Services Promotion and Facilitation Act of 2018,” the minister said as she continued to present the Union Budget 2020-21.
While addressing the Parliament Sitharaman said that the farmers will be allowed to set up solar units on barren/fallow lands and supply power to grids.
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The finance minister further said 20 lakh farmers will be provided funds for setting up standalone solar pumps.
The government has also proposed a comprehensive measure for 100 water-stressed districts, she added.
Besides, the Centre also proposes plans to help farmers use proper manure and little water and encourage balanced use of fertilisers, the minister said.
Balanced use of fertiliser will bring about change in prevailing regime of providing incentive for use of chemical fertiliser, Sitharaman said.
The finance minister also said that Food Corporation of India and Warehousing Corporation of India to build warehousing facility on their land.
She said NABARD will map and geo-tab 162 million tonne capacity agri-warehouses across the country.
(With input from agencies)
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