New GST rates: A Boon for Agriculture and Farmers' Prosperity

The new GST (Goods and Services Tax) rates mark a major transformation in the agriculture and dairy sectors.

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With the reduction in GST rates, farmers, agricultural and dairy workers, and livestock owners across the country are expressing joy and gratitude to Prime Minister Shri Narendra Modi and Union Finance Minister Smt. Nirmala Sitharaman. Union Agriculture Minister Shri Shivraj Singh Chouhan termed the new rates a revolutionary decision, expressing hope for historic changes.

The impact of the GST reforms will be widely seen among small and medium farmers. Lower GST on agricultural machinery and solar-powered equipment will reduce farming costs and increase farmers' profits. GST has been reduced on bio-pesticides and micronutrients, which will benefit farmers and encourage a shift from chemical to bio-fertilisers. In the dairy sector, milk and cheese will now attract zero GST, benefitting not only common citizens but also farmers, livestock owners, and dairy producers. The GST reforms will also promote integrated farming. Clear benefits will be visible in animal husbandry, beekeeping, fisheries, agroforestry, and poultry farming. Reduced GST on tendu leaves will strengthen the livelihood of tribal communities, while lower GST on commercial goods vehicles will make the transportation of farm produce cheaper.

Prices Down, Profits Up

• Tractor prices to reduce

• Tractor parts to get cheaper

• Agricultural equipment to become more affordable

• Solar-powered irrigation devices will get cheaper

• Fertilisers to cost less • Pesticides to get cheaper

• Fruits and vegetables will get cheaper

• Nuts to cost less

• Boost to food processing