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Key amendments proposed in Finance Bill 2023 in respect of agriculture sector
The Hon’ble Finance Minister, presented the Union Budget 2023 on 1 February 2023 in the Lok Sabha.
Budget 2023 seeks to achieve the objective of doubling the income of farmers, accelerated growth of the sector and achieving nutritional security through enhanced focus on investments and financial support (increased agricultural credit target, set up of Agriculture Accelerator Fund), enhancing infrastructure (decentralised storage facilities, critical infrastructure projects to be undertaken), research and development (setting up of COEs for AI based solutions, labs for developing applications using 5G services for precision farming) skilling of youth, impetus to green farming practices.
We bring you a detailed analysis on tax and regulatory amendments announced by the Hon'ble Finance Minister in her budget speech in respect of agriculture sector.