24-03-2012, 12:04 PM
ministry of food processing industries
food indu.pptx (Size: 84.83 KB / Downloads: 43)
Impact of Union Budgets on FPI
2001-02, excise duty reduced to 0 from 16%
2004-05, 100% tax reduction on profit for 5 years and 25% for next 5 years
2007-08, grant up to 33.33% on Plant & Machinery (maximum of Rs.75 lakhs ).
2004-05, Excise duty on fish processing has been reduced from 16% to 8%.
2006-07, Excise Duty has been waived on fish processing.
2001-02, Automatic approval for foreign equity upto 100% is available
2003-04, customs duty on refrigerated truck has been reduced from 25% to 20%
2005-06, Customs duty on refrigerated vans reduced from 20% to 10%
2005-06,To ensure availability of credit:- FPI included in the list of priority sector for bank lending
2005-06, NABARD has created a refinancing window with a corpus of Rs.1000 crore
2007-08, Custom duty on food processing machinery reduced from 7.5% to 5%
2008-09, fund of Rs 5, 000 cr in NABARD to enhance its refinance operations
2010-11, External commercial borrowing facility available to the food processing industry