Cabinet nod to extension of VAT waiver on pulses till June 30

Bhubaneswar: Odisha cabinet on Wednesday approved, among seven others, a proposal to extend the waiver of value added tax (VAT) on pulses till June 30. The decision bears significance as the Goods and Services Tax (GST) is likely to come into effect from July 1.

Official sources said the Cabinet meeting chaired by chief minister Naveen Patnaik too cleared proposal to offer 3.5 acre land free of cost for the establishment of an IT park in Rourkela.

Among others, the Cabinet agreed to provide 51-acre land to Omfed for a milk processing plant at Baranga in Cuttack district. The plant would process surplus milk from the farmers and produce processed products like ice cream, paneer, curd and milk powder. Sources said, National Bank for Agriculture & Rural Development (Nabard) has sanctioned loan of Rs 244 crore from the Rural Infrastructure Development Fund (RIDF) for this plant. National Dairy Development Board (NDDB) has been engaged as the consultant for this project.

Besides, the cabinet gave in-principle approval to the amendments to Odisha Start-up Policy proposed by the MSME department. Henceforth, start-ups will get incentives on an individual basis. The amendment will encourage the MSME sector, sources revealed.