DEPD scheme for exporters will remain:EEPC chairman

Kolkata, Jan 31 (UNI) Engineering Expert Promotion Council of India Chairman Rakesh Shah today said DEPD scheme for the exporters will not be withdrawn as the Centre has not drawn any alternative mechanism for it.

Addressing a press meet here, Mr Shah said, '' The Centre earlier proposed to start a new scheme applicable for all exporters.

However, that scheme will not be floated in the budget, so the discrimination between the small and big exporters will remain.'' He further added that the exporters whose turnover is below and above Rs 10 crore respectively are discriminated while receiving DEBP (Duty Entiltled Pass Book) benefits.

The EEPC, in its budget proposal, had also urged the Union Finance Ministry to withdraw Frindge Benefit Tax (FBT), as no there is no mechanism for the refund of FBT.

Speaking on the future of EEPC plans, Mr Shah said, EEPC had planned to reach a target of 110 billion dollar by 2016 and 40 billion by 2019.

In a bid to boost engineering expertise EEPC had planned to enter market like South Africa and Russia. Two international fairs would also be organised in Johannesburg and St Petersberg.

UNI