|
|
'Centre mulls interest relief on export credit'
|
|
|
|
| Top Stories |
 |
|
|
|
SME Times News Bureau | 11 Sep, 2015
The Centre will soon come out with a package for the export sector, which has been going through a rough phase for the last several months, said a media report on Friday, quoting commerce and industry minister Nirmala Sitharaman.
"The finance ministry has given us an outlay for interest subvention. We (commerce ministry) have laid out rules by which different sectors would be given this benefit. These will soon go the the Cabinet (for a decision)," Sitharaman is quoted as saying by The Financial Express.
Hit by global slowdown, exports contracted for the eighth straight month by 10.3 percent in July to USD 23.13 billion, pushing the trade deficit to USD 12.81 billion.
It is informed that under the new scheme banks would give 3 percent interest relief on export credit and get compensated.
However, the minister declined to name the sectors which would be brought under this scheme.
Last month, Sitharaman had convened a meeting with senior officers from Ministry of Health, DCGI, Department of Pharmaceuticals, Department of Biotechnology, Department of Commerce and Pharmexcil to take stock of the various issues and challenges that exports of Indian Pharma industry are confronted.
The minister added that the Merchandise Export for India Scheme for rewarding export performance will be looked at afresh only at the time of a mid-term review of the Foreign Trade Policy 2015-20.
|
|
|
| |
|
|
|
|
|
|
|
rewarding export performance
Gop | Fri Sep 18 08:17:13 2015
review is necessary and a good idea
How Government penalizes the citizens
Prem P Madan Managing Director, A Plus Projects and Technology Pvt Ltd | Thu Sep 17 15:13:23 2015
Dear Minister, you need to know how the small private companies get penalized for their sincere effort and supporting export or deemed export as per your formed policies.
This is PPMadan from A Plus Projects and Technology Pvt Ltd.
For deemed export sales done in 2008 to 2012, as per your policy we are suffering till today for no fault of ours.
Oil India gave us three Project Authority Certificates and under your deemed export policy we permitted excise duty benefit to Oil India Ltd, without retaining a single penny with us.
Today several years down the line, after spending lakhs of rupees in legal charges, denying wages to my workers, we are unable to our normal business.
My several petitions are lying in your office, prime ministers office, finance ministers office, petroleum ministers office.
It is a matter of concern that the ministries do not even respond unless you have friends or make friends.
Is this the governance?
Please set this right.The business men, the managers, the workmen are hard working. It is the governance.
www.aplusprojects.biz
ppm@aplusprojects.biz
02025692067 or 02025692067
919423055400
|
|
|
|
|
|
|
| |
| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 13 Aug, 2022 |
|
|
| Daily Poll |
 |
 |
| PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
| Commented Stories |
|
|
|
|
|
|
| |
|
