NCUI Chief Executive Dr Dinesh was part of an expert team which met Union Finance Minister for the pre-budget consultations Wednesday in Delhi. Dr Dinesh made a strong case for removal of tax from cooperatives.
Talking to indiancooperative.com soon after the meeting Dr Dinesh said that in a delegation of farm experts numbering 12-13, it was only the expert on cooperatives (pointing to himself) who had the chance of being heard by the Minister not once but twice.“ Pranab Da heard me out patiently and seemed eager to help the cooperative movement “, said a satisfied Chief Executive.
Dr Dinesh made a good case for tax exemption for cooperatives underlining their role as agencies not to make profit but to usher in social changes. He impressed upon the minister the merit of restoring tax exemption as was in vogue earlier before 2006.The Primary Agricultural Societies are free of tax burden but the societies above them have to pay income tax, he lamented.
He informed indiancooperative.com that Direct Tax Code was another important issue that stared the Indian cooperatives in the face. Elaborating on the merits of NCUI field projects he mentioned about some studies which have confirmed their benefits and wanted the government to continue supporting them.
Other demands of the farm experts included FDI in retail, decentralization of handling of food grains and investment in the farm sector.
