February 11, 2011 5:55 PM

printer

Govt announces Rs 500 crore fiscal incentives to boost exports

The government has announced fiscal incentives worth 500 crore rupees to boost exports. The sops announced for exporters of select products today also aims at helping them to cope with the uneven global recovery marked by problems in Europe. It will cover the period of January to December this year.The sops unveiled by Commerce and Industry Minister Anand Sharma will be given under different schemes like 'Focus Market' and 'Focus Products. In the Focus Market Scheme, exporters get duty credit of three per cent on the value of consignments. But, under the Focus Product Scheme, the exporters can avail duty credit of five per cent.The sectors to benefit include agri products, chemicals, engineering, electronics, plastics and textiles. Over 617 products will be covered. Exports to 15 countries, including Australia, Brazil, New Zealand, China and Japan will be eligible for the benefits.Anand sharma said the situation in the current fiscal is far better but Europe remains worrisome. He was confident of India meeting the exports target of 200 billion dollars during the current financial year. Overseas shipments have shown a growth of 29.5 per cent during April-December period. The government had given similar sops worth 600 crore rupees in January last year.

Most Read
View All arrow-right

No posts found.