Capital farmers thank CM on capital gains exemption

  • CRDA commissioner leads farmers to thank CM

Amaravati: The farmers of the 27 capital villages who have given their lands in pooling for the government to build the capital city, Amaravati, hailed the Central government’s gesture of giving capital gains exemption for their lands for two years. The farmers led by AP Capital Region Development Authority (APCRDA) commissioner Dr Cherukuri Sreedhar, local MLA Tenali Sravan Kumar, met Chief Minister N Chandrababu Naidu on Wednesday evening and thanked him for the initiative.

The tax exemption given on capital gains would help the farmers to a greater extent, the farmers said and thanked the Chief Minister for his initiative that had made the Central government to give the exemption in the budget. The farmers also thanked Prime Minister Narendra Modi and Union Finance Minister Arun Jaitely for extending the tax exemption. However, they requested the government to give five years term to avail the benefit as the plots are to be developed and it would take at least two to three years. Justifying the farmers’ demand, the Chief Minister wanted the Central government to see that no time limit is set to the farmers to sell their piece of lands and avail the tax exemption. He said that the farmers of the 29 villages have made highest sacrifice by giving their lands to the government to build the capital. He recalled that Finance Minister Arun Jaitely too in his budget speech had admitted the sacrifice of the farmers and felt that the farmers should be given the benefit without time limitations.

APCRDA Commissioner Dr Cherukuri Sreedhar said that 25,000 farmers from 27 villages have given their lands to the government for the capital city. The APCRDA had already completed giving their share of residential and commercial plots and added that these plots could now be sold without paying the 20 per cent tax. On behalf of the farmers and the State government, the APCRDA commissioner thanked Finance Minister Arun Jaitely and Chief Minister Chandrababu Naidu for extending the capital gain tax benefit to the farmers. He further said that the capital gain tax exemption to the farmers had brought national recognition to the land pooling system introduced and implemented successfully by the APCRDA.

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