Nation Current Affairs 04 Sep 2021 Tamil Nadu CM Stalin ...

Tamil Nadu CM Stalin announces cancellation of market levy on cotton

PTI | DECCAN CHRONICLE
Published Sep 4, 2021, 4:56 pm IST
Updated Sep 4, 2021, 4:56 pm IST
Tamil Nadu Chief Minister M K Stalin. (PTI Photo)
 Tamil Nadu Chief Minister M K Stalin. (PTI Photo)

Chennai: A one per cent market levy on cotton and cotton waste would be withdrawn and the relevant legislation shall be suitably amended to give effect to it, Chief Minister M K Stalin announced in the Assembly on Saturday.

Citing representations from weavers and entrepreneurs, Stalin said the levy of one per cent fee by the market committee "is cancelled," and an amendment Bill would be passed in the ongoing Assembly session.

Under the Tamil Nadu Agricultural Produce Marketing (Regulation) Act 1987, one per cent fee is levied on cotton and cotton waste -based on the sale value- by the market committee.

While such a fee should be levied only on cotton bales, cotton and cotton waste also face the one per cent fee, the Chief Minister said.

Due to this, small mills faced huge difficulties and withdrawal of levy on cotton has been a long time demand of weavers and entrepreneurs, he said.

During a consultation after his government assumed office on May 7 this request was reiterated. Considering such requests, the one per cent market levy is cancelled, he added.

According to the TNAPM Act, the market committee shall levy a fee on any notified agricultural produce bought or sold in the notified market area.

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