Govt’s additional levy adversely affect Kerala’s Cashew enterprise

Govt’s additional levy adversely affect Kerala’s Cashew enterprise

by admin- Friday, January 18th, 2019 08:36:35 PM

As the Kerala kingdom authorities gears up to impose extra levy to make up the losses incurred inside the current floods, the Cashew enterprise is likely to be laid low with the circulate.

The Cashew Export Promotion Council of India (CEPCI) has put forward its call for to exempt Cashew industry from enforcing the levy for you to support the enterprise which is already dealing with disaster.

Currently, some 700 Cashew factories in the non-public sector stay shut because of economic crunch at the same time as 173 of these have been declared as Non-Performing Assets(NPAs) facing healing approaches.

In the cutting-edge situation, the Cashew processors in the State couldn’t compete with other State processors because of huge costs incurred in Cashew processing inside the State. If the Government imposes levy, the products from Kerala will revel in a price hike in the public market.

Such a state of affairs will adversely affect the advertising potentialities of the goods from Kerala that’s probably to similarly deepen the crisis confronted by means of the industry.

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