Meghalya government in a cabinet meeting today approved the introduction of manufacture and sale of homemade fruit wines in the State.
This will boost not just the overall wine sector in the state but will also benefit farmers who produce a lot of fruits in the State.
Further, the government approved the interest subvention scheme to Kisan Credit Card farmers in Meghalaya. At present the farmers are availing KCC loans at the rate of 7%. Under this scheme the Meghalaya State Government will provide further 2 percent interest subvention in addition to Central Government’s existsing 3% bringing the effective interest for borrowers of KCC loans to 2%.
Also approved the creation of a New Scheme called Chief Minister’s Special Development Fund (CMSDF) by merging two existing schemes i.e Chief Minister’s Special Rural Development Fund (CMRDF) and Chief Minister’s Special Urban Development Fund (CMSUDF). This is done to improve efficiency and reduce the time spent of processing the files and to ensure that the implementation is done at a faster pace.
Approved the remission of Stamp Duty Fees to be charged on the Emergency Credit Line Guarantee Scheme and PM SV Anidhi. The exemption of the fees will allow the small-time borrowers such as street vendors and entrepreneurs to easily avail the scheme without having to register or pay stamp duties.
Approved the amendments to Meghalaya Minerals Cess Act, 1988. Through this amendment, the number of items and minerals on which cess can be charged have been increased. The cess amount will be utilised to improve public health, drinking water, supply and physical infrastructure development apart from the development of primary education. Cess will also be levied on minerals extracted or removed from “any lands” in addition to mine or quarry.
Cabinet also approved Meghalaya Settlement of Arrears under the State Taxation Act, 2020.