Farmers get incentives to go for mechanization

Source -timesofindia.com

The 50% reduction of basic customs duty on import of agricultural machinery from 5% to 2.5% in the Budget has been welcomed by the farm sector. Stakeholders, however, said the 5% value added tax (VAT) on spare parts at the state level should be dispensed with so as to boost mechanization.

Appreciating the . . . → Read More: Farmers get incentives to go for mechanization

NABARD: Need for custom hiring of farm machinery

The National Bank for Agriculture and Rural Development’s (NABARD) focus paper on Punjab for the financial year 2011-12 has stressed upon the need for custom hiring of farm machinery.

The paper, released at the state credit seminar organised by the bank on Thursday, highlighted that tractors and other farm equipment are being not used . . . → Read More: NABARD: Need for custom hiring of farm machinery