Govt can look at taxing rich farmers

Having taken care of poor farmers by transferring funds into their accounts, the government can contemplate imposing income tax on rich farmers to bring about fairness in the taxation structure, Reserve Bank Monetary Policy Committee (MPC) member Ashima Goyal (Pictured) has said.

“Government transfer payments to farmers are like a negative income tax. Along with that, a positive income tax can be applied for rich farmers as part of a movement to a data-rich system with low tax-rates and minimum exemptions,” Goyal told PTI. She was responding to a query on whether agriculture income should be taxed in India.