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Mumbai, July 6

Mr Sanjay Kaul, Managing Director and Chief Executive Officer, National Collateral Management Services Limited, has said that the Budget proposals on investment-linked incentives for setting up and operating cold chain warehousing were welcome. However, had the same incentives also been extended to regular warehousing, it would have been a huge plus for the storage industry. This would be beneficial, given the potential to reduce losses due to deterioration of food grains owing to poor storage practices. He said the abolition of Commodities Transaction Tax (CTT) is welcome considering that commodities markets are still nascent and CTT was detrimental to the development of the markets.

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