sops

Citing serious fiscal situation, Union Commerce Secretary Rahul Khullar said that no new incentives and sops could be provided to exporters in the next fiscal in view of significant resource crunch faced by Centre. Khullar tersely told a meeting of exporters last night that the current fiscal situation was so serious that it was not going to be a temporary problem in terms of resource-crunch. Full Article

The government gave in-principle approval to DLF on Tuesday to withdraw four of its IT, ITES special economic zones, which the realty major did not want to build in the face of slowdown in the real estate business. However, the board of approval in the commerce ministry asked the DLF to return all the tax [...] Full Article

Exporters of traditional items including textiles, gems & jewellery, handicraft and leather — hit hardest by the slowdown in the Western markets — may get access to cheaper credit to tide over the current global meltdown. The commerce department and the finance ministry are discussing an incentive package for identified labour-intensive export sectors, which could include provision of credit at a subsidised rate and for a longer period. Incentives may also be given t.. Full Article