Nirmala Sitharaman says new AIDC will support development of farm infrastructure

Finance Minister Nirmala Sitharaman said Sunday that new agriculture cess anunced in last week's union budget will provide central government with ditional funding to support farm infrastructure. Sitharaman, while speaking to press, said money collected via new Agriculture Infrastructure and Development Cess (AIDC) will go towards developing agriculture infrastructure. She assured that new AIDC will t d ditional burden on consumers in her Feb 1 budgte speech.

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Sitharaman said that with reduced customs duty, agriculture cess has been brought to collect ditional funding for development of farm infrastructure. minister ded that since states are responsible for development of agriculture infrastructure, money collected via AIDC will go back to m for agriculture infrastructure development activities. Sitharaman unveiled union budget for financial year 2021-22, in which government has anunced 100% agriculture cess on alcoholic bevers. 

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"re is an immediate need to improve agricultural infrastructure so that we produce more, while also conserving and processing agricultural output efficiently. This will ensure enhanced remuneration for our farmers. To earmark resources for this purpose, I propose an Agriculture Infrastructure and Development Cess (AIDC) on a small number of items. However, while applying this cess, we have taken care t to put ditional burden on consumers on most items," Sitharaman h said in her budget speech on February 1. 

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Union Budget 2021-22

Finance Minister Nirmala Sitharaman on Monday presented first-ever paperless budget in a post-COVID India. Budget was based on six pillars - health and well-being, physical and financial capital and infrastructure, inclusive development for aspirational India, reinvigorating human capital, invation, and R&D, minimum government, maximum governance. budget was being closely watched by experts due to ongoing farm protests in country against three farm laws introduced by government last year. (With inputs from ANI, Im Credit: PTI)

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