PROMOTING MISUSE
Article Abstract:
The Government of India has introduced at least one export promotion scheme every year since 1990. However there has been poor growth in exports despite these schemes and the government has incurred a revenue loss. The revenue loss has increased to about 43 percent in 1998-99 as compared to 30 percent in 1997-98. In the first nine months of 1998-99 the export schemes have cost the exchequer a total revenue of Rs11,120 crore. The export promotion schemes will be effective only if a proper administrative mechanism is set in place. Currently, the schemes are being misused by exporters. Proper bank guarantees and a verification mechanism is required to prevent misuse. (gs)(vr)
Comment:
The Government of India has introduced at least one export promotion scheme every year since 1990.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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GOVT PERMITS CORPORATES TO HEDGE COMMODITY PRICE RISKS ABROAD
Article Abstract:
The Government of India is to allow corporates to enter global commodity markets for hedging their goods price risks abroad. It has made it mandatory that companies should access global commodity exchanges through brokerage firms that clearing members of the exchanges. Companies are now free to make 6- month contracts for agricultural goods. If the period of contract exceeds 6 months, then such contracts should get the permission from the Reserve Bank of India. The hedging facility will benefit firms who import agricultural products using the open general licence route. (gs)
Comment:
India: Government will allow corporates to enter global commodity markets for hedging their goods price risks abroad
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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