New Delhi: The Pesticides Manufacturers and Formulators Association of India (PMFAI) demanded Wednesday that the government in the forthcoming Budget should reduce GST to five per cent from the current 18% on pesticides in line with other farm inputs like seeds and fertilisers. The PMFAI also said the government should increase duty drawback (export benefits) of pesticides from the present two to 13 per cent. It also said that import duty should be increased on technical and finished pesticides to 20-30 per cent. It will help protect the domestic agro-chemicals industry.
The PMFAI in a statement also urged the government to extend a support and other development assistance for developing technologies for intermediates and technical grade pesticides indigenously under ‘Make in India’ programme.
These were four key demands the PMFAI – which represents over 200 small, medium, and large-scale Indian pesticide manufacturers, formulators, and traders. The PMFAI said their representation has been submitted to the Fertiliser and Chemicals Ministry.
“The GST reduction will help bring three-fourth of the total farmers in India, who are outside the ambit now. It will help them protect their crops without causing any substantial loss to the central exchequer. This will help farmers harvest crops with minimal loss and secure better returns too,” PMFAI president Pradip Dave said.
Agriculture is the only sector which has shown resilience and grown 3.5-4 per cent in the last quarter. Considering the prevailing economic scenario, it calls for special focus and support for sustainable growth of Indian agriculture, added Dave.
The Union Budget will be presented by Finance Minister Nirmala Sitharaman, February 1. The Budget session of Parliament will start January 29.
Union Budget, PMFAI, Pesticides, Nirmala Sitharaman, Agriculture, Fertiliser, GST