(MENAFN- KNN India)
Assam Tea Industry hails govt for Rs 550 cr budget allocation Guwahati, Mar 17 (KNN) The Assam Tea industry which has been under undue stress due to rising costs of production and stagnant prices has welcomed the state government's move to allocate Rs 550 crore for the industry in the Budget 2023-24.
Dipanjol Deka, Secretary of the Tea Association of India (TAI) in a statement hailed the Assam budget and lauded the extension of the Assam Agri income tax exemption and the incentives declared under the Assam tea industry special incentive scheme (ATISIS).
Tabling the budget, Finance Minister Ajanta Neog said that the Assam Tea Industries Special Incentives Scheme will be strengthened to bring relief to tea workers.
'The potential of tea garden land has been unlocked and shall be used for agriculture and allied activities. Assam Tea Industries Special Incentives Scheme (ATISIS), 2020 will be further strengthened to incentivize the production of orthodox tea and specialty tea in Assam,' she said.
As per reports, the state government has decided to increase the production subsidy for orthodox tea from Rs 7 to Rs 10 per kg.
“To celebrate the 200 years of Assam Tea, I am pleased to announce that for the current year of 2023-24 only, an enhanced production subsidy of Rs 12 per kg will be extended,' she informed.
During the budget presentation, Neog said, 'Emphasis will be given on infrastructure development of tea garden labour lines, especially the development of roads. This year, as a special relief, all the arrear electricity dues of tea garden worker families living in the lines will be waived off as a one-time measure by the Government. The state government has allocated Rs 150 crore for this.”
The government will continue supporting Assam Tea Corporation Limited against the payment of outstanding liabilities of interest on provident funds in a phased manner, Assam's Finance Minister said, adding that Rs 100 crores would be allocated for the same.
Assam government will also organise roadshows across the country to promote Assam Tea as a brand.
(KNN Bureau)
MENAFN17032023000155011030ID1105805239
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.