IGI Logo

Below the Quote on Budget Expectation from Commodity Sector - 2023/24 by Anuj Gupta, Hdfc Securities

1. Government should look at waiving the Commodity Transaction Tax to boost trading volumes.

2. Price Discovery Mechanism should be strengthened by lifting the ban on agri-commodity futures contracts.

3. Large PSU, MF, FI, & FII should be allowed to participation is Hedging to increase the liquidity

4. The precious metals industry, which includes gold, silver, and platinum, wants import duty to be reduced.

5. Policies for supporting technology adoption in order to modernize the agriculture trade and marketing operation.

6. Policies that incentivize the creation of large storage facilities, cold storage, processing, and distribution units will help add value to agricultural products.

7. In order to encourage crop diversification, it is also anticipated that the government will rationalize the MSP policy.

8. More focus on investing style like investment in new-age technology applications like the Internet of Things (IoT), Artificial Intelligence (AL), Machine Learning (ML), Blockchain, and the like.

9..Provide incentives for the bioenergy sector to boost agri business.

10. An increase in the import duty of RBD Palmolein & RBD Palm oil from the current 12.5% to 20%.

11. Focus on Agri tech institutes to provide education to farmers to increase productivity

Above views are of the author and not of the website kindly read disclaimer