Notification No. 3(RE-98)1997-02: Revised Indian Rupee Value for Deferred Payments

The Government of India has issued Public Notice No. 27 (RE-98)/97-02 on August 6, 1998, regarding the Indian Rupee value of the Special Currency Basket related to deferred payments contracts under the protocols signed with the USSR. This notice follows the provisions of the Deferred Payments Protocols dated April 30, 1981, and December 23, 1985, concerning machinery and equipment deliveries from the USSR to India on deferred payment terms. The Reserve Bank of India has revised the Indian Rupee value to 50.2750 effective from August 25, 1998. This adjustment will apply to all deferred payment contracts concluded under both protocols between the Indian government and the erstwhile USSR.

GOVERNMENT OF INDIA

MINISTRY OF COMMERCE

NOTIFICATION NO. 3(RE-98) /97-02

NEW DELHI: DATED THE 13TH APRIL, 1998

S.O. (E):- In exercise of the powers conferred by section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 4.1 of Export and Import Policy, 1997-2002, the Central Government hereby makes the following amendments in the ITC(HS) Classifications of Export and Import Items, 1997-2002 published on 3lst March, 1997 and as amended from time to time. In respect of following Exim Code Nos., policy indicated in columns 3, 4 and 5 shall be amended to read as under.

This issues in public interest.

(N.L. LAKHANPAL)
DIRECTOR GENERAL OF FOREIGN TRADE
AND EX-OFFICIO

ADDITIONAL SECRETARY TO THE GOVERNMENT OF INDIA

Copy to all concerned;

By Orders etc.,

(RAJAN SUDESH RATNA)
DEPUTY DIRECTOR GENERAL OF FOREIGN TRADE
Issued from File No. IPC/4/5/( 667)/97-02_)