In a mail to Indian Cooperative B H Krishna Reddy, President of Karnataka State Souharda Federal Co-operative said precisely the words spoken by Nafcub President Jyotindra Mehta
“We are very thankful to Finance Minister Smt. Nirmala Sitaraman ji for considering the below points in budget which are discussed in a meeting held on 20th January 2020 with Sahakara Bharati Delegation”, he wrote.
He listed-Reducing Income Tax on Urban Co-operative Banks to 22%, Increasing limit of Deposit insurance up to 5 Lakh and Creating Mechanism to raise Capital for Cooperatives as major highlights of the Budget.
And we hope, our finance minister may consider & solve cooperatives other problems also in an appropriate manner in order to stabilize the Co-operatives movement, he stated
“And as per my opinion – Budget is growth oriented with strong focus on all sectors. This will not only bring the economy back on track but will also accelerate the economic growth”, he felt.