ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Agricultural Wealth Tax-To Save Farmer s Wealth

hysteria patients and so found entry into the British Pharmaceutical Codex, 1934, The item did not find any mention in subsequent editions of this publication; nor does it feature in the Indian pharmacopoeia, as it is no longer used as a medicine. Yet the government gave its decision in 1972 that silver oxide was a drug, export of which was entitled to 20 per cent import replenishment and 20 per cent cash subsidy. This was done by pointing out that the item had been classified as a drug in the 1934 edition of the British Pharmaceutical Codex. It should be remembered that prices of silver in India were lower than those abroad at that time. Secondly, in the case under consideration silver oxide had been exported to a rupee payment country. Despite all these obvious considerations, the exporting firm was given a cash subsidy of Rs 10.5 lakhs and an import replenishment licence for Its 10.5 lakhs in free foreign exchange in May 1972.

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