Finance Minister Y. Ramakrishnudu on Sunday said the TTD should make all its sugar purchases within the State. This will not only provide the required impetus to the government’s endeavour to revive all the sugar factories but also will prove advantageous to the cane growing farmers in the State.
Talking to the media Mr. Ramakrishnudu said, “for a potential buyer like TTD – whose annual purchases run into several crores of rupees, it will be more proper to explore the local market to meet its requirements.” It has been explained that the TTD is purchasing sugar from Karnataka at a much lower price owing to the fact that there is no imposition of VAT in the neighbouring State.
It may sound fair but is not correct as several sugar factories in the State including the one in Chittoor are reeling under losses. If the imposition of VAT alone is coming in the way of purchases then the government will certainly look into the issue of reducing the tax to the extent maximum possible, he said.
For a potential buyer like TTD – whose annual purchases run into several crores of rupees, it will be more proper to explore the local market to meet its requirements.
