Chennai: One percent market retribution about cotton and cotton waste will be withdrawn and relevant laws must be amended to have a effect on him, Minister M K Stalin announces the assembly on Saturday.
Citing representations of weavers and entrepreneurs, Stalin said the retribution of one percent by the market committee was “canceled,” and the amendment bill would be forwarded in the ongoing assembly session.
Under Tamil Nadu Nadu Masaran Production (Rules) Act 1987, the cost of one percent is imposed on cotton and cotton waste -bed at the selling value – by the Market Committee.
While such costs must be collected only on racing, cotton and cotton waste also face a cost of one percent, said the ministerial head.
Because of this, small factories face great difficulties and withdrawal of retribution on cotton has long demanded weavers and entrepreneurs, he said.
During the consultation after his government was assumed that the office on May 7, this request was reaffirmed.
Considering such requests, one percent market retribution is canceled, he added.
According to the Law of TNAPM, the Market Committee will collect fees on agricultural products to be repaid or sold in the market area notified.
CM announces the cancellation of market retribution on cotton
