Level field for local goods

The decision to allow exporters to utilise the export incentive ‘scrips' earned by them for payment of excise duty on domestically sourced inputs is a well-timed initiative. Currently, these scrips — amounting to a certain percentage of the export value, varying from scheme to scheme — can only be used to pay duties on imported capital goods and raw materials. It has, to that extent, induced exporters to import their inputs rather than procure the same from within the country.

Read Full Story>>