ELECTRONICS GETS EXPORT BOOSTER

Article Abstract:

To boost the exports of electronic goods, the Government of India has introduced a special advance licensing scheme for the sector. Under this scheme, new exporters can avail an advance licence up to 50 percent of the average domestic production in the preceding 3 years or up to Rs50 lakh, whichever is higher. Under the scheme, the eligible exporter will be entitled to an advance licence on a production programme basis up to 150 percent of the average FOB value in the preceding 3 years. The income from exports of electronic goods in 1997-98 was $700 million ($850 million in 1996-97). (gs)

Comment:

India: Govt introduces a special advance licensing scheme for electronics sector to boost exports of electronic goods

International economic relations, Other Electrical Equipment and Component Manufacturing, Electronics

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PSU POWER Cos GET BOOSTER

Article Abstract:

The Budget for 1998-99 has focused on the policy of power sector to improve finances of the public sector (PS) power companies. The government has permitted securitisation of the outstanding which will help the PS power companies raise money from the markets. The total outstanding of the state electricity boards to the government of India is Rs10,000 crore. The tax holiday for the power projects will continue. The counter guarantee for the projects will be speeded up to get the projects started. (rk)

Comment:

India: Country's budget for 1998-99 focuses on policy of power sector to improve finances of public sector power companies

Public Finance Activities, Fiscal Policy

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FILM SECTOR SEES SILVER STREAK

Article Abstract:

The 1998-99 Budget has cut down the amortisation period for films from 180 days to 90 days, exempted recorded video cassette for telecasting from eight percent excise duty, cut the duty on cinematic jumbo rolls from 25 percent to 10 percent. Film producers should give information under Section 285 B of Income Tax Act for payments made over Rs25,000 from the earlier limit of over Rs5,000. (rk)

Comment:

India: Budget for 1998-99 cuts down amortization period for films from 180 days to 90 days

Motion Picture Production, Motion Picture and Video Production, Movie production

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