The removal of the trade curb –commodities transaction tax (CTT), has been a very welcome and encouraging move for the commodity exchanges in the sense that it would clear a lot of apprehensions regarding the costs involved in using the exchange platform. This move would probably stop the migration, if any, from the exchanges to the OTC markets which is largely unregulated and unorganised.
The proposals in this budget to increase investment in agriculture, irrigation facilities, provide direct subsidies to farmers would go a long way to boost this sector, making agriculture more resilient and productive in the years to follow. The provision of providing tax rebates to all those companies who build warehouses and storage facilities would be beneficial for the development of the commodity spot and futures markets alike.
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