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.
He said the tax holiday given to the Information Technology boosted the sector, which helped in generating employment in the urban areas. Similarly, concessions in the processing sector will help in generating employment in the rural areas.
These incentives will also motivate people to invest in the sector, the minister added.
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