Home / Knowledge / News / Textiles / Haryana govt extends 0.8% market fee on cotton for FY'14
Haryana govt extends 0.8% market fee on cotton for FY'14
27
Sep '13
The government of the north Indian state of Haryana has decided to continue charging market fee and Haryana Rural Development Fund (HRDF) on cotton at the current rate of 0.8 percent each for the financial year of 2013-14.
 
The decision was taken during a meeting between Haryana chief minister Bhupinder Singh Hooda and representatives of Cotton and Ginners Association.
 
Mr. Hooda informed that this fee reduction would be given only for those stocks that are substantiated by web-based gate pass and the cotton millers could download it from the website themselves.
 
If a trader or ginner is caught evading the market fee and HRDF, it would be recovered from such trader or ginner for the entire season at the rate of two percent on both, he added.
 
The market fee and HRDF levy on cotton was reduced from 4 percent (2 percent each) to 1.6 percent (0.8 percent each) for the season 2011-12, and the government had extended this fee structure for the year 2012-13. 
 
The representatives of Cotton and Ginners Association said they would achieve the target of 13.5 million quintals arrivals of cotton in Haryana mandis (small markets in India) in 2013-14 season as against the current arrival of 12.078 million quintals of cotton.
 

Fibre2fashion News Desk - India

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