Export subsidy to decline in 2008-09

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New Delhi, Feb 29 (UNI) Export subsidy by Department of Commerce, which has been revised to Rs 1,594 crore , a Rs 900-crore jump over the budgetary support of Rs 694 crore provided for in the 2007-08 Budget, has been slashed by Rs 300 crore to Rs 1,294 crore in the Union Budget for 2008-09 tabled in Parliament today.

Export subsidy zoomed this year as exporters, particularly in the labour-intensive textiles, leather and marine sectors, have been hard hit by declining exports because of 12 per cent appreciation of the rupee in a year.

The department, which had provided Rs 85 crore to Marine Products Export Development Authority in 2007-08, has, however, increased it to Rs 105 crore in the 2008-09 budget to enhance exports of fisheries.

Centre for WTO Studies has been allocated Rs 4 crore in the next fiscal to enable it help Indian interlocuters who are engaged in intensive negotiations on agriculture and industrial tariffs at the World Trade Organisation.


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