Financial Daily from THE HINDU group of publications
Thursday, Sep 30, 2004
Financial Daily from THE HINDU group of publications Thursday, Sep 30, 2004 |
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Agri-Biz & Commodities
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Farm credit Haryana to write off `taccavi' loans Our Special Correspondent
Chandigarh , Sept. 29 THE Haryana Cabinet, which met here on Wednesday under the chairmanship of the Chief Minister, Mr Om Prakash Chautala, decided to write off `taccavi' loans worth Rs 348.74 crore in the larger interest of the farming community. An official spokesman said that the decision is likely to benefit about 1,40,000 families against whom these loans were outstanding. It may be recalled that Mr Chautala had recently announced to waive off these loans to benefit the farming community. The Cabinet also decided that the report of the Verma Commission (which probed the imposition of prohibition and its subsequent withdrawal by the then Bansi Lal government) along with the action taken report be placed before the State Assembly. It also revised the policy for renewal of existing mining leases of major minerals. Henceforth, the cases of renewal of major mineral leases would be decided on the basis of merit alone as per the Central Act and Rules. It also decided to reduce the rate of tax on 27 types of tools and hardware from 10 per cent or 12 per cent to four per cent by including them in schedule `C' of the Haryana Value Added Tax Act, 2003. These include cutting tools like drills, taps, cutters, end mills, reamers, dies, tool bits used in industries for tapping, threading, drilling, boring, milling and turning, carbide tip, inserts of cermets; engineering files, rasps, pliers; spanners, vices, clamps, oil can, die handle, hammer tips; hacksaw blade, bendsaw blade and all types of hand and power saws; bonded abrasives, namely grinding wheels and the like bonded abrasives, parting wheels, finishing sticks, mounting wheels for grinding, sharpening, polishing and cutting; coated abrasives, namely grinding discs, coated emery cloth, waterproof emery paper, emery belts and rolls, emery wheels made from natural or artificial abrasive powder or grain; gasket, steam jointing sheets, industrial asbestos products like asbestos cloth and asbestos rope; electro- mechanical power tools and their spares; PTFE teflon taps, sheets and rods; conveyor belts, V belts and transmission belts; epoxy resins, epoxy hardeners, cotton pins, threaded studs made of iron and steel; plastic box strappings, anti-rust spray, mould release spray, cutting oil, high temperature grease; gauges for measuring and checking instruments; micrometers and calipers, pneumatic parts, fittings and accessories for machinery; valves, cocks, solenoid valves and coils; magnetic block, chucks and couplings; air and gas pipes, tubes, hoses for conveying air, gas and liquid; oil seals, O Rings and rubber gasket; pulley tackle and industrial hoists and industrial safety items like hand gloves, aprons, leg guard, nose mask, face shield, rubber fingers, safety industrial helmet and safety goggles. The spokesman pointed out that the reduction was effected because the Faridabad Tools and Hardware Merchants Association, Faridabad and Beopar Mandal, Faridabad had made a representation in this connection.
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