Govt plans new export incentives

Govt plans new export incentives

 The exporters have been demanding that the tax-refund Duty Entitlement Pass Book (DEPB) Scheme, which is set to expire by the end of this month, should be extended.

Under the 14-year-old DEPB scheme, the government spends annually about Rs 8,500 crore for reimbursing exporters on the taxes paid on import equivalent content of export products.

The main beneficiaries of the DEPB scheme are engineering, automobile and chemicals sectors. Though India’s exports have shown a remarkable performance, growing by 54 per cent between April-July 2011 to $108.3 billion, there are concerns that the momentum may not be sustained.

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