Zamwar upbeat on IT relief for producer companies

Sukesh Zamwar, the Managing Director of Buldana Urban which is held as the numero uno of credit co-ops in the country has largely welcomed Union Budget 2018 introduced in the Parliament by Finance Minister Arun Jaitley on Thursday.

“Since we mostly deal with marginalized sections I can say that this budget is aimed at ameliorating their condition. Farmers are being supported with MSP and there is more budgetary allocation for the farming sector”, said Zamwar explaining his optimism.

Though there is nothing specific to cooperative, farm-centric budget is going to help co-operatives in one way or the other, summarized the MD of Buldana Urban.

Sukesh was, however, happy at the announcement of tax relief for farmer producer companies. In the budget the Finance Minister has introduced 80P for producer companies having a turnover not exceeding Rs 100 crore for five years.

Buldana Uban has several subsidiaries such as pulse mill, chilly mill, etc in this category. “We had set them up long time back as raising capital is difficult within the co-op fold, said Zamwar.

Sukesh also lauded other provisions such as health protection, relief to senior citizens. “Insurance and health sector are the major areas for fund allocation and I am happy with that”, said Sukesh.

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