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

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Taxation- What about Investment Allowance

have not kept pace with the expansion in use of physical and technical inputs in agriculture. The government's latest Economic Survey is compelled to admit that "while there has been progress in expanding the area under irrigation, and also in providing modem inputs such as high-yielding varieties of seeds, chemical fertilisers and pesticides, the increase in inputs docs not appear to have produced a corresponding growth in yields per hectare of crops other than wheal". The result has been a sharp escalation in the costs of production of agricul- tural crops which should raise serious doubts about both "the soundness of the production strategies followed by the government" and "the growing strength and resilience of Indian agriculture".

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