The Food Processing Ministry has asked the Finance Ministry for giving 10-year tax holidays to give impetus to the sector.     

"I have asked for 10 years income-tax holiday as the processing level is very low," Food Processing Minister Subodh Kant Sahai today said on the sidelines of the 2nd Food Technology Summit here jointly organised by industry body CII and the Ministry of Food Processing Industries.     

Click here for Cloud Computing

Also Read   Related Stories News Now - Stimulus should come with sunset clause: CII - Infra stocks may be upbeat on hopes of higher outlay in budget - Budget will be popular; let the mystery remain: Montek - Budget 2009: What it should do for GST 2010 - Fertiliser industry seeks 15-yr tax holiday for new projects - Pharma ind seeks tax sops for R&D in drug devt

Also Read   Related Stories News Now - Wall Street opens flat as data offsets Moody's warning - Thomas Cook India Q4 net jumps three times - Govt plans to make 30% sourcing from MSEs mandatory - Explain ways to cover govt loss on 3G roaming: TDSAT to telcos - Magma Fincorp plans to start gold finance biz in H1 of FY13 More

These incentives will also motivate people to invest in the sector, the minister added.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Wall Street opens flat as data offsets Moody's warning - Thomas Cook India Q4 net jumps three times - Govt plans to make 30% sourcing from MSEs mandatory - Explain ways to cover govt loss on 3G roaming: TDSAT to telcos - Magma Fincorp plans to start gold finance biz in H1 of FY13

Tags : Union budget 2009 | Food Processing Ministry | Finance Ministry | tax holidays | IT industry   Read Business news in  Advertisements -  Now property search gets more exciting than ever before! -  High Growth Business Opportunities in Africa - Register to explore -  Medium-sized businesses are the engines of a smarter planet. -  We live for our family. have you secured them? -  Office 365 for professionals and small businesses. -  Earn fuel worth Rs.2400 with Citi -  India's No. 1 Property Site. Click here to know more.. -  Diseases earlier, Saving Costs, Extending Lives. Know More.. -  Get 5% cashback on telephone bills with Citi -  Enjoy the journey as much as the destination. click to know more.. -  Exim Bank Conclave on India - Africa Project Partnership. Know more.. -  Be part of it The World's Largest Aircraft. -  Creating Wealth made simple the SIP way. Know more.. -  Only Developer to give a guarantee on time space & rate. -  Buy Your Property with Our Triple Guarantee in India. -  Improve Patient Care & Experience. Click here to know more -  Win a Business Class Ticket to Europe..Know more.. -   Introduce a New Automotive Luxury Car.. know more -  Health is Wealth..... Insurance + Savings... Know More...