Home / Knowledge / News / Textiles / Punjab Govt slashes taxes on cotton purchase
Punjab Govt slashes taxes on cotton purchase
05
Apr '11
In a bid to offer a permanent respite to the cotton producers and the ginning mill owners, Punjab Chief Minister Prakash Singh Badal on April 4 declared a one percent reduction in the Market Fee imposition on purchase of cotton in Punjab. Moreover, the Rural Development Fund (RDF) levied on cotton purchase has also been slashed by one percent.

Initially, admitting the Punjab Cotton Factories and Ginners' Association's demand, the state government in October last year granted a temporary relief by reducing both, the Market Fee and the Rural Development Fund (RDF) from two to one percent, which remained into effect till March 31, 2011.

However, the CM did request the association members to deposit 0.25 percent of amount paid for cotton purchase in to the fund created by the state government to help the Cancer patients, as a gesture of kindness.

He further declared that, the government would be giving well-equipped fire brigades to all the leading cotton mandis in Malwa, so as to help these mandis to respond to fire incidents during the cotton arrival season.

The CM said that, he aspires that the Malwa region which is identified as the cotton belt of Punjab should be developed as a textile mills cluster. If this is done, it would help the people to gain advantages of value addition, he added.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search