Mumbai, Feb 18 State-run Nabard, which is to skylarking a explication position in implementing the Centre's farm allowance waiver package, has sought revenue tax exemption. In a brand-new appeal to the government, Nabard said its coeval income tax outgo could be ploughed back to toughen the National Rural Credit Fund (long-term) and physique a proposed pool for short-term credit. Nabard has argued that being made to recompense return tax has deprived it of the talent to plough resources back into the agriculture sector. Nabard has paid gain levy of Rs 426.48 (2001-02), Rs 471.88 crore (2002-03), Rs 392.63 crore (2003-04), Rs 433.34 crore (2004-05), Rs 378.34 crore (2005-06), Rs 367.89 crore (2006-07) and Rs 390 crore (2007-08 until December 2007).
So far, Nabard has paid a compute of Rs 2,861.11 crore. According to Nabard, the furnishing of resources for long-term believe to the smallholding sector received a autocratic setback in 1992-93 due to the superintendence purposefulness to suited the continuous excess of the Reserve Bank of India and not allow to remain any total for strengthening the Nabard fund. Further, in 2001-02, the Centre imposed proceeds encumbrance on Nabard.
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