“Duty reduction on certain inputs required for shrimp aquaculture to promote its exports is a welcome move as it will further boost entrepreneurial mindset and help in job creation. Lowering production cost of shrimp hatchery and feed will promote growth in the sector. The fisheries and aquaculture sector has tremendous potential to generate livelihood and income,” said Amit Saraogi, chairman, Livestock Taskforce, CII Eastern Regional Council.
“Increased allocation under Livestock Health and Disease Control programme from Rs 8.86 billion in RE 2021-22 to Rs 20.00 billion the 2022-23 BE, reiterates GOI’s focus on supporting livestock betterment. This is expected to bolster cattle productivity and increase raw milk availability for dairy processors,” said Sharad, adding, “Reduction in alternative minimum tax rates for cooperative societies will positively impact margins of dairy cooperatives lending cushion for further capex in dairy processors,” said Sharad, adding, “Reduction in alternative minimum tax rates for cooperative societies will positively impact margins of dairy cooperatives lending cushion for further capex in dairy processing and passing on benefits to dairy farmers.”
However, the livestock industry captains think that the budget gave inadequate attention to the livestock sector, even though it contributes 4.11% to GDP and 25.6% to total agriculture GDP.
