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Agricultural
income may not be taxed
New Delhi: The Union Government has rejected
a Parliamentary Committee's recommendation to tax the
agricultural income of those having agricultural and non-agricultural
income after setting a threshold exemption limit.
The
Union Government has said that the taxation of agricultural
income was within the purview of the State governments
and outside the purview of the Union Government.
However,
agricultural income is included in the total income for
fixing the rate at which tax is to be calculated.
It
said that in order to empower the Union Government to
impose income-tax on agriculture, `taxes on agricultural
income' would have to be taken out of the State list through
a Constitutional amendment.
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AP
increases focus on bio-diesel
Hyderabad: The Andhra Pradesh Government plans
to take up cultivation of bio-diesel plants in 13 districts
in the state under the National Rural Employment Guarantee
Programme (NREGP), the chief Minister, Dr Y.S. Rajasekhara
Reddy, recently announced. He said the State Government
plans to financially support, to the tune of Rs3,500 per
acre, farmers interested in bio-diesel plantation. The
Government proposes to go in for plantation of Pongamia
and Jatropa on at least 1 lakh acre of land in each of
the 13 districts under the NREGP programme during this
year, Dr Reddy said.
Further,
the Government also plans to create marketing facilities
for bio-diesel produced under the scheme.
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India
can touch 9.5 per cent growth rate: Montek
New Delhi: Planning Commission Deputy Chairman
Montek Singh Ahluwalia India, said India can achieve 9.5
per cent GDP growth even in the absence of hard labour
reforms or foreign direct investment in the retail sector.
He
said the Indian economy has reached a stage where this
is possible but supportive measures need to be taken.
The
Planning Commission has targeted a 9.5 per cent growth
in the last year of the approaching 11th Five-Year Plan
(2007-2012) to realise an average 8.5 per cent growth
during the P.A. Period.
Ahluwalia
pointed out that economic reforms were absolutely necessary
to sustain the growth.
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