“The focus of the budget this year was on strengthening the healthcare system of India, which stemmed as a critical lesson of the pandemic. However, on the industry side, we do not have much for the agrochemical sector. The only upside is that the proposed increase of agriculture credit is likely to increase the purchasing power of the farmers, which will, in turn, become a factor of growth for the agrochemical sector. The MSMEs may benefit from the increase in customs duty and withdrawal of exemption on certain imports. But largely, this budget does not have much for us”, said Mr. Pradip Dave, President, PMFAI.
Add to support Atmanirbhar, PMFAI suggested an increase in customs duty on import 10 to 30 % on import of ready-made pesticides formulation government has failed to protect & support Indian Pesticides industries. PMFAI appel to reduce GST to 5 % from 18 to help farmers also ignored, he further added.
