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SJMSOM IIT-Bombay
Agriculture is the mainstay of Indian Economy About 75% people are living in rural areas and are still dependent on Agriculture and allied sectors. About 43% of Indias geographical area is used for agricultural activity Contributes nearly 22% in Gross Domestic Product Of India
SJMSOM IIT-Bombay
SJMSOM IIT-Bombay
Total Area Irrigated Area Population Economically Active population Total Cereals Wheat Rice Coarse grains Total Pulses Oil Seeds Fruits and Vegetables Implements (Tractors) Milk Live Stock (castles, Buffaloes)
SJMSOM IIT-Bombay
7th 1st 2nd 2nd 3rd 2nd 2nd 4th 1st 2nd 2nd 3rd 1st 1st
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Agriculture income is exempt under the Indian Income Tax Act If you have only agricultural income, then the income is not taxable. It is fully exempt
If you have agricultural income and other sources of income, then you are required to file the returns and show the agricultural income. Even if the total income is below the taxable income
SJMSOM IIT-Bombay
Income from sale of replanted trees Income derived from sale of seeds Rent received for agricultural land
SJMSOM IIT-Bombay
Income from poultry farming,bee hiving,dairy farming,etc Income from sale of spontaneously grown trees. Purchase of standing crop. Dividend paid by a company out of its agriculture income. Income of salt produced by flooding the land with sea water. Royalty income from mines. Income from butter and cheese making. Receipts from TV serial shooting in farm house are not agriculture income
SJMSOM IIT-Bombay 7
During the process of development,agriculture has to supply the rest of economy with larger food surplus and raw materials Production and marketed surplus of agriculture goods have to increase to meet the requirements of the non-agricultural sectors and also to supply the food to all people
SJMSOM IIT-Bombay
What farmer produces is partly in the benefit of the citizens of country and partly in his benefit as well. 300 million people in India are below poverty line.
SJMSOM IIT-Bombay
In the case of land revenue every farmer, whatever may be his income was brought under the levy of land tax while under income tax no person is called upon to pay the tax, if he had not earned income during the year
SJMSOM IIT-Bombay
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Exploitation of the farmer at the hand of suppliers of farm input Governments indifference in alleviating the stress of farmer Indebtedness and agrarian distress Pressure to pay back various mane debt Unscrupulous suppliers of spurious seed,fertilizer and pesticides Uncertainty in price fluctuation and rainfall
SJMSOM IIT-Bombay
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What farmer wants is a minimum assured income The cultivators today needs the same kind of handholding and financial encouragement as has been provided for long to those who wish to set up specialized industries Moreover the cultivator and his primary production are far more important for survival as a healthy society
SJMSOM IIT-Bombay
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THANK YOU
SJMSOM IIT-Bombay
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