INDIRECT TAXES
| Budget 2011: Relief for exporters likely Sun, 27 Feb 2011 05:54:31 GMT |
| NEW DELHI: Finance Minister Pranab Mukherjee is likely to accept exporters demand, like extension of concessional credit scheme, when he presents the General Budget in Parliament on Monday. While exports are showing healthy growth rate of over 29 percent, exporters are hoping that Mukherjee would not roll back the stimulus as demand in the western markets are still fragile and uneven. In its pre-Budget meeting, apex exporters body FIEO has also demanded that the income tax benefit available to Export Oriented Units (EOUs) and Software Technology Park Units (STPIs) should be extended for another three years. The benefits under EOUs and STPIs would expire on March 31. The government provides 2 percent interest rebate on export credit and the scheme is scheduled to expire on March 31. India's exports are likely to touch $225 billion during the current fiscal. The Commerce Ministry is aiming that exports would touch $450 billion in the next three year |
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