The recent Agricultural Reforms, which can support FPOs to setup their own markets to enhance the incomes of farmers are –: the Farmers’ Produce Trade and Commerce (Promotion & Facilitation) Act, 2020;the Farmers (Empowerment & Protection) Agreement on Price Assurance and Farm Services Act, 2020; Liberalization of control orders under the Essential Commodities Act; Agriculture Infrastructure Fund (AIF)and operational guidelines for promotion of 10,000 FPOs.

These reforms in Agriculture sector will lead to increased volume of production of horticulture crops and value-added commodities; Institutional credit to strengthen small farmers and Farmer Producer Organizations (FPOs); will boost the agri-logistic infrastructure in a major way; will develop backward and forward linkages to meet demand of all consumption zones of India; will lead to One Nation One Market and will make the FPO movement a mass movement.

NAFED (National Agricultural Cooperative Marketing Federation of India Ltd.) has been designated as one of the National Implementing Agencies for formation and promotion of 10000 FPOs Programme of the Ministry of Agriculture and Farmers Welfare. NAFED has acquired FIFA to provide market linkage support to the FPOs for their produce and create markets in partnership with the FPOs under the brand of NAFED e-Kisan Mandi (NeKM) which will be connected to the National Digital Marketing platform being created by NAFED

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The government has settled Rs. 13,325 crore to CGST and Rs. 11,117crore to SGST from IGST as regular settlement.The total revenue earned by Central Government and the State Governments after regular settlement in the month of June,2020 is Rs. 32,305 crore for CGST and Rs. 35,087 crore for the SGST.

The revenues for the month are 91% of the GST revenues in the same month last year. During the month, the revenues from import of goods were 71%and the revenues from domestic transaction (including import of services) were 97% of the revenues from these sources during the same month last year.During the month of June, returns of February, March, and April 2020 have also been filed in addition to some returns of May 2020 since Government has allowed a relaxed time schedule for filing of GST returns. Some returns of May 2020, which would have otherwise got filed in June 2020, will get filed during first few days of July 2020.

The revenues during the financial year has been impacted due to COVID-19, firstly due to the economic impact of the pandemic and secondly due to the relaxations given by the Government in filing of returns and payment of taxes due to the pandemic. However, figures of past three months show recovery in GST revenues.

The GST collections for the month of April was Rs. 32,294 crore which was 28% of the revenue collected during the same month last year and the GST collections for the month of May was Rs. 62,009 crore which was 62%of the revenue collected during the same month last year. The GST collections for the first quarter of the year is 59%of the revenue collected during the same quarter last year. However, a large number of taxpayers still have time to file their return for the month of May, 2020

The chart shows trends in monthly gross GST revenues during the current year. The table shows the state-wise figures of GST collected in each State during the month of June, 2020 as compared to June, 2019 and for the full year.

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In pursuance of recently announced Atma Nirbhar Bharat Abhiyan stimulus package, Cabinet today approved setting up of Animal Husbandry Infrastructure Development Fund (AHIDF) amounting to Rs. 15000 crore.

Government had earlier approved the Dairy Infrastructure Development Fund (DIDF) worth Rs. 10,000 crores for incentivizing investment by cooperative sector for development of dairy infrastructure. However, the MSMEs and Private companies also need to be promoted and incentivized for their participation in processing and value addition infrastructure in the animal husbandry sector.

The AHIDF approved today would incentive infrastructure investments in dairy, meat processing and animal feed plants. The eligible beneficiaries under the Scheme would be Farmer Producer Organizations (FPOs), MSMEs, Section 8 Companies, Private Companies and individual entrepreneur with only 10% margin money contribution by them. The balance 90% would be the loan component to be made available to them by scheduled banks.

Government of India will provide 3% interest subvention to eligible beneficiaries. There will be 2 years moratorium period for repayment of loan with 6 years repayment period thereafter. Government of India would also set up a Credit Guarantee Fund of Rs. 750 crore to be managed by NABARD which would provide credit guarantee to the projects which are covered under the MSME defined ceilings. Guarantee Coverage would be upto 25% of the Credit facility of borrower.

Benefits :
There is huge potential waiting to be unlocked through private sector investment in animal husbandry sector. The AHIDF with the interest subvention scheme for private investors will ensure availability of capital to meet upfront investment required for these projects and also help enhance overall returns/ pay back for investors. Such investments in processing and value addition infrastructure by eligible beneficiaries would also promote exports.

Since almost 50-60% of the final value of dairy output in India flows back to farmers, the growth in this sector can have significant direct impact on farmer’s income. Size of dairy market and farmers’ realization from milk sales is closely linked with development of organized off-take by cooperative and private dairies.

Thus, investment of Rs. 15,000 crores through AHIDF would not only leverage several times more private investment but would also motivate farmers to invest more on inputs thereby driving higher productivity leading to increase in farmers income. The measures approved today through AHIDF would also help in direct and indirect livelihood creation for about 35 lakh persons.

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How many professionals in India have declared annual income of ₹1 crore from their profession in their tax returns? About 2200. This was clarified in a series of tweets by the income tax department, sharing income tax return data for the financial year 2018-19.

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