The CAG has found that agricultural income of nearly Rs 500 crore was allowed as exemption in 2017-18 by the income-tax authorities without adequate verification. Of the 6,778 scrutiny assessment matters it reviewed, the CAG found that in 1,527 cases, tax claims were allowed without verification of supporting documents (land records, crop information, invoices etc).
India’s second-biggest sugar producing region is facing an unusual situation: Attractive returns in the cattle-feed market are prompting farmers to sell sugar cane as fodder. That may cause sugar output in Maharashtra to drop below an earlier estimate of 6.44 million tons for the year starting in October.
Meet Bharat Bhushan of Khellani village in Doda district of Jammu and Kashmir. The farmer switched from maize to lavender for his 2 acre plot nearly 20 years ago and has never looked back. By this November, he will be adding another 10 acres. “I planted the crop for the first time in 2000 and the returns are four times what I used to get for maize,” he says. Lavender flowers are harvested and processed to obtain oil, dry flowers and other valueadded products.
The advent of steam engine made possible the transfer of this perishable fruit to the American market. The commercial popularity of banana resulted in the formation of United Fruit Company in 1899.
Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service