TMA announce tractor price increase in India

Tractor Manufacturers Association of India (TMA) announced that the hike in excise duty from 10 percent to 12 percent, in the Union Budget 2012–13, would lead to a hike in tractor prices.
 
March 21, 2012 - PRLog -- Tractor Manufacturers Association of India (TMA) announced that the hike in excise duty from 10 percent to 12 percent, in the Union Budget 2012–13, would lead to a hike in tractor prices. Raising concern over this increase of two percent rise in excise duty on tractors, Avinash Patankar, Chairman TMA Marketing Committee and Senior Vice President, Sales & Channel Development, Farm Equipment Sectors, M&M Ltd said: 'The hike in excise duty from 10 percent to 12 percent will adversely affect farm mechanisation and agricultural productivity”.

Due to NREGA, availability of farm labour has decreased during farming season which can only be addressed through farm mechanisation. Tractors, farm implements and machines enable the farmers to employ the power judiciously for production purposes which increases productivity of land and labour by ensuring timeliness of farm operations and increased work out-put per unit time.

Besides its paramount contribution to the multiple cropping and diversification, agriculture mechanization also enables efficient utilisation of inputs such as seeds, fertilisers and irrigation water. The benefits of farm mechanisation to farmers in terms of raised productivity and higher returns are also evident.

In view of the above, TMA requests the government to consider rolling back the rise in excise duty, keeping in mind the interest of the farming community at large. In the event of this raise being given effect, the tractor manufacturers in India would be constrained to pass on the two percent hike to the customers, with immediate effect. For more on automotive and related industry update, visit automotivehorizon.sulekha.com.
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Source:Jayashankar Menon, Editor, Automotive Horizon
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Tags:Indian tractors
Industry:Agriculture
Location:India
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