The Hindu Business Line : Foodgrains merchants body wants lower lending rates

Madurai, June 2 The Tamilnadu Foodgrains Merchants Association (TFMA) has urged the Union Finance Minister, Mr Pranab Mukherjee, to reduce the bank lending rates for agricultural and industrial sectors.

In a pre-budget memorandum submitted to the Finance Minister, the association said the reduction is necessary for the development, especially of small farmers.

The association has suggested that the income-tax slab be enhanced with no surcharge and Fringe Benefit Tax as well as Banking Cash Transaction Tax be withdrawn.

The other suggestions include withdrawal of service tax on lorry freight borne by traders, issue of high denomination currency notes, withdrawal of notification requiring traders to furnish Declaration Form C/Form F.

More Stories on : Foodgrains | Tamil Nadu | Budget

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