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Allow FIIs to participate in commodity derivatives
Allow foreign institutional investors and domestic financial institutions like banks to participate in commodity derivatives. This will facilitate wider participation and development of the commodity markets. Warehouse development to be given infrastructure status. This will increase private participation and facilitate better development of the spot markets. This will also bring more transparency and liquidity in the markets.
Initiate steps to ensure 4 per cent expansion in agriculture on a sustainable basis
for next 10 years. Packages to address farmers’ debts. Re-look the agriculture subsidy and delivery system. Provide tax incentives for R&D activities in agriculture and allied sectors, including food processing under Section 35(2AB) of Income Tax Act.
The custom duties of edible oils are approximately 40 per cent. Despite rising international edible oil prices, the Government has left the import base tariff unchanged. This has reduced the effective import duty on edible oils below 20 per cent. We do not expect any change either in import duties or in its base tariffs.
Kotak Commodity Services Ltd
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