Livestock and Rural Community Development Minister Arumugam Thondaman told the Parliament, the exemption of VAT on dairy machinery roposed by President Mahinda Rajapaksa in the Budget proposals for 2012 will help to further accelerate the growth in the dairy sector.
The Minister speaking during the debate on his Ministry said the tax concessions on dairy animals and other in puts for dairy industry provided by the Government have had positive impacts on the dairy production. The Government has also given financial assistance for the livestock industry to reach international markets.
He said the Ministry has planed to develop the farms belonging to the NLDB with the participation of both local and foreign investors. At present the Ministry has initiated development projects worth over Rs. 540 million.