Farmers Call for Major Tax Reforms and Support in Upcoming Union Budget

Ahead of the Union Budget 2025-26, the Bharatiya Kisan Union has laid out demands for tax exemptions on agricultural goods and reforms in determining the Minimum Support Price (MSP). Meeting with Finance Minister Sitharaman, they pushed for measures to better support and facilitate India's agricultural sector.

In a significant move preceding the Union Budget for 2025-26, the Bharatiya Kisan Union (apolitical) has articulated several crucial demands to Finance Minister Nirmala Sitharaman. The farmers' union is urging the government to eliminate Goods and Services Tax (GST) on agricultural equipment, animal and poultry feed, fertilizers, seeds, and medicines, reflecting on earlier tax exemptions in a pre-GST regime.

During the pre-budget consultation, the BKU voiced concern over the longstanding neglect of the agriculture sector, despite its substantial contribution to national employment. They have called for a comprehensive reassessment of the Minimum Support Price (MSP) framework, urging inclusion of all potential risks and post-harvest expenses farmers face, to ensure fair compensation and stable income for the agricultural community.

The Union further pressed that agricultural imports should not undercut the MSP and suggested zero insurance premiums for small farmers under the Pradhan Mantri Fasal Bima Yojana. They also proposed increasing the PM Kisan installment and emphasized the need for cheap long-term loans, while advocating the inclusion of agriculture in the concurrent list of the Constitution to facilitate broader policy reform.

(With inputs from agencies.)