Sunday, Aug 9 2020 | Time 22:06 Hrs(IST)
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  • Earthquake of 3 8 magnitude jolts Gangtok
  • Karnataka reports highest single-day spike of 5985 cases
  • Ensure developmental schemes reach every person in their territory: PM Modi to BJP workers of Andamans
  • COVID-19: 10,820 fresh cases reported, 97 more patients die in AP
  • Newly-appointed UPSC Chairman calls on Jitendra Singh
  • Punjab Guv tests negative while his Principal Secy & 4 others found Covid positive
  • Nagaland COVID-19 cases reach 2781, 93 new cases in 24 hrs
  • Punjab: 987 test +ve, 24 die
  • Ex-JPC Commander with 4 other associates nabbed by Hazaribagh police, arms and ammunition recovered
  • Aurangabad registers 263 new COVID patients
  • PM to inaugurate Submarine Optical Fibre from Chennai to Andaman & Nicobar on Monday
  • Former K'taka minister G Ramakrishna passed away at 82
  • Criminal cases registered against hotel, hospital managements: AP HM
  • Jammu Admn felicitates Centenarian freedom fighter on behalf of President
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States » South


Decision on reducing market cess on APMC Traders will be taken on July 9

Mangaluru, July 3 (UNI) Karnataka Co-Operation Minister S T Somashekar on Friday said that the decision to reduce the market cess on Agricultural Produce Market Committee (APMC) traders from across the state will be decided in the cabinet meeting to be held on July 9.

Speaking to newsmen here, he said, at present, market cess of 1.5 per cent is collected from the traders. The cess is used for the payment of salary of the employees, development work in the APMC yard and also carrying out cleanliness in the APMC yard.

As per the amendment to APMC Act, any trading outside the purview of any APMC yard, will not attract any additional costs as levy or cess. Hence there is a demand to reduce the market cess from the trading community in Karnataka.
“We are working on how much cess can be reduced without affecting the functioning of the APMCs. The issue will be placed in the Cabinet meeting for final decision,” Minister said .
Welcoming the move to bring cooperative banks under RBI, the Minister said that the move will help to put an end to cheating the customers by the cooperative banks.
The ordinance is expected to give wider powers to the RBI to audit these lenders and also to supersede their board in case they are under stress. The deposit by the customers in the cooperative banks will be safe, he added.
UNI BSP GK 2231
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