May 28, 2024

Budget Reaction Quote by Mr. Atul Chaturvedi, Executive Chairman, Shree Renuak Sugars Ltd

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“The Budget is on expected lines and has given lot of cheer for the honest income tax payer. In case of Agriculture sector, we welcome the Agri Accelerator fund for horticulture as well as continued thrust on Millets. Green Energy transition fund of INR 35000 crore in line with our commitment of achieving carbon neutrality by 2070 is also encouraging .No announcement of road map for National Oilseed mission is a bit of a dampener for the Vegetable Oil sector as our edible oil security continues to be heavily compromised. For Sugar and Edible oil sector, this budget is a non-event as the Finance Minister has not tinkered with duties. Edible Oil refining industry was demanding restrictions on Refined Palmolien imports in line with Prime Ministers clarion call of Make in India. Nothing has been announced on that front. Cooperative Sugar sector would heave a sigh of relief as the long standing tax demand of close to 10000 crore has now been practically withdrawn