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PM to decide on further sops to exporters: Nath

By Staff
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Google Oneindia News

New Delhi, Dec 11 (UNI) Commerce Minister Kamal Nath today said the proposals to give additional benefits to exporters are being considered by Prime Minister Manmohan Singh, as a secular appreciation of the rupee has hit the exporting community hard.

Speaking to reporters on the sidelines of a meeting, Mr Nath said, ''There has to be complete remission of duty. It has to be ensured that no taxes are exported and exporters have a level playing field. We have already floated a Cabinet note in this regard,'' he said.

Earlier, the Commerce Minitry had said the government will not hesitate to announce more sops, like hiking duty drawback rates from three to five per cent.

The government has already announced three packages for the exporting community to compensate them for the shrinking of their profits due to a rising rupee.

The ministry is also actively pitching for more sops from the Finance Ministry as a slowdown in exports will lead to a decline in industrial production and trying to bring in suitable policy intervention.

UNI

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