The Directorate of Currency has been set up in the Ministry of Finance as a permanent body to monitor and review the efficacy of the existing security features in the currency notes, study best practices prevailing in other countries, drive and fund research and Development (R&D) on continuous basis and act as a clearing house on research on the subject.
The Consulate General of India in Hong Kong has brought to the notice of the Board that the divergent practices are being followed at different airports in India for allowing free allowance under the Baggage Rules, 1998, as amended, for the passengers coming from Hong Kong Special Administrative Region (SAR), P.R. China. At some airports, the passengers from Hong Kong are being given full free allowance of Rs.25,000/- while at some other airports, they are allowed only Rs.6,000/- as free allowance. It was, therefore, requested that the Board should issue suitable clarification in this regard.
Vide Circular No. 31/2003-Customs dated 7.04.03, the administrative control over EOUs, (including EHTP and STP) in the port cities, falling within the territorial jurisdiction of Commissioner of Customs, is with the concerned Commissioners of Customs. At other places, administrative control is with the jurisdictional Commissioner of Central Excise. The only exception is Bangalore Customs.
The domestic savings rate which had fallen in 2008/09 is expected to pick up substantially in 2010-11. We estimate the savings rate at 34.3 per cent of GDP in 2010/11 and the corresponding investment rate will be 37.0 per cent. These savings and investment rates will further improve in 2011/12. These rates should enable the economy to grow in a sustained manner at 9 per cent
Attention is invited to Board’s Circular No.61/2004 dated 28.10.2004, Circular No.37/2005-Customs dated 6.09.2005 and Customs instruction dated 6.10.2006 on the issue of classification and importability of Boric Acid
