July 10, 2014 8:10 AM

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Incentives offered on milk powder exports scrapped to check prices

The government has decided to scrap the five percent incentive offered on export of skimmed milk powder (SMP). The move will help augment domestic supply of milk and cool prices. Sources said, the decision to this effect was taken at a meeting of the Cabinet Committee on Economic Affairs in New Delhi yesterday. In June 2012, the previous government had lifted the ban on SMP exports and included this product under Vishesh Krishi and Gram Udyog Yojana under which exporters can avail five per cent duty credit scrip on export value.

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