To check Oneindia News on your Mobile
go to:   http://m.oneindia.in/news/
  •  

ND becoming haven for tax-evaders: Rice Assn

Karnal, Apr 8: All India Rice Exporters' Associatin has taken a strong exception to variations in taxes across the country, saying that the absence of level-playing field was playing havoc with the the rice industry.

The Association's newly-elected President Mr Vijay Setia said here at a press conference last night that New Delhi had become a ''heaven'' for the tax-evaders as market fees is only 0.5 per cent as compared to the adjoining states Haryana and Punjab where it is 8 per cent and UT where it is 6.5 per cent.

As a result, congestion and overstocking of rice and other food grains in unhygienic conditions was taking place in Delhi, he added.

He said the association would soon pursue the matter with the Union Finance Minister and chief ministers of the states concerned.

He also urged the government not to encourage Genetically Modified Research on the Indica variety of long rice like Basmati, Pusa 1, 11, 21 and Shabnam, which account for Rs 7,500 crore of annual export.

''If at all, research should be done on Japanica short rice variety which is not exported in huge amounts. Unknown virus due to genetically modified research can cause immense damage as 700 varieties of soybean got damaged in the US due to to polarisation of the virus in genetically modified soybean. As a result three lakh tonnes of genetically modified rice was withdrawn from the market on the basis of apprehension only, causing tremendous loss to the rice industry there,'' he said.

The association planned to press for strict mechanism and fixing of clear accountability in the matter so that losses can be recovered and farmers' interest can be protected if anything goes wrong due to genetically modified research on rice.

UNI

IMF presents report on global financial systems

Washington, Apr 12: After witnessing a slow down, the Global Financial System (GFS) has emerged stronger and become more resilient in recent months, the International Monetary Fund (IMF) says.In the latest issue of its semi-annual Global Financial Stability Report published April 11, the IMF says developments such as strong corporate earnings and continued increase in disposable personal income validate its September 2005 upbeat assessment of the G F S. "The financial, corporate and household sectors have created substantial financial cushions in practically.....
User Comments
[ Post Comments ]
Be the first to comment on this article.
Oneindia  Oneindia Login