Amul welcomes Budget 2026-27; sees boost for cooperatives, dairy, rural economy

The Union Budget 2026-27 presented by finance minister Nirmala Sitharaman has announced several landmark initiatives aimed at strengthening Indias cooperative ecosystem, dairy sector, animal husbandry infrastructure and rural livelihoods, reinforcing the governments vision of Sahakar se Samriddhi and inclusive development, Amul said in a statement.

Dairy major Amul on Sunday welcomed the Union Budget 2026-27, saying it will provide transformational support to the cooperative movement, the dairy sector and the rural economy. ''The Union Budget 2026-27 presented by finance minister Nirmala Sitharaman has announced several landmark initiatives aimed at strengthening India's cooperative ecosystem, dairy sector, animal husbandry infrastructure and rural livelihoods, reinforcing the government's vision of ''Sahakar se Samriddhi'' and inclusive development,'' Amul said in a statement. Finance minister announced a slew of tax benefits for the cooperative sector entities engaged in the supply of cattle feed and cotton seed during the Budget presentation. The government introduced landmark taxation reforms aimed at strengthening the financial sustainability and operational efficiency of cooperative institutions, including extension of income-tax deduction to cattle feed and cotton seed, deduction for inter-cooperative dividend income under the new tax regime, three-year exemption on dividend income received by notified national cooperative federations for investments made up to January 31, 2026, subject to onward distribution to member cooperatives. These reforms significantly strengthen the financial sustainability of dairy and agricultural cooperatives. Amul further stated that the announcement of a new Dedicated Freight Corridor connecting Surat in the West to Dankuni in the East will play a crucial role in facilitating the efficient transportation of milk and other perishable dairy products. The Budget also provides major tax relief by excluding the entire value of biogas while calculating excise duty on biogas-blended CNG. The establishment of Tribhuvan Sahkari University at an allocation of Rs 300 crores stands as a strong reflection of the government's commitment to strengthening the cooperative sector.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)