FM meets delegation of farmers led by D Purandeswari

Key Highlights

• Purandeswari also cautioned that a sharp rise in taxes could lead to a decline in legal trade and an expansion of illicit trade, potentially resulting in revenue losses for the exchequer, it said.
• It is to be noted that effective February 1, there would be a sharp increase in the tax incidence on legal cigarettes, putting pressure on demand and affecting auctions, buyer participation and trade confidence, it said.
• Farmers from Andhra Pradesh and Telangana informed the Finance Minister that their crop was ready and auctions were expected to begin next month, it said.
• They expressed apprehension that higher taxes could depress domestic consumption and lead to price declines and unsold inventories, it said.
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