work at home

work from home

Thursday, June 4, 2009

Exporters demand incentives from finance ministry

Exporters today told Finance Minister Pranab Mukherjee that exports from the country could reach the $200-billion mark in 2010, if they will be provided a stimulus package covering tax breaks, market development incentives and cheaper credit.

A Sakthivel, president of federation of Indian Export Organisations said after meeting finance minister "Our requirements need to be met so that competitiveness increases."

In the pre-Budget meeting, the exporters called for some demands include exemption from fringe benefit tax as well as faster refunds of service tax. Further they should be provided exports-related credit with an interest rate of 7%. Moreover, exporters proposed a Rs 5,000-crore fund, which could be used to market Indian products in emerging overseas markets like East Europe, Latin America or Africa.