More than 11,68,000 people claimed exemption from Income Tax on grounds of agricultural income in the assessment year 2011-12. Stating this in a written reply in the Rajya Sabha, Minister of State for Finance S.S.Palanimanickam said this amounted to an exemption of over 18,000 crore rupees taxable income. Top claimants of exemption were Pinoneer Overseas corporation with an agricultural income of 69 crore rupees, Vibha Agrotech Limited, PHI Seeds Private Limited, Plantation Corporation of Kerala Limited and Monsanto India Limited.