YS Sujana Chowdary Updates from Rajya Sabha. Questions Debates and Current News
Wednesday, May 9, 2012
New Schemes To Promote Export Performance
GOVERNMENT OF INDIA
MINISTRY OF COMMERCE AND INDUSTRY
RAJYA SABHA
UNSTARRED QUESTION NO-3571
ANSWERED ON-09.05.2012
a) whether Government has introduced new schemes to promote export performance during the last three years;
b) if so, the details thereof;
c) whether there is any monitoring mechanism in place to evaluate the performance of these schemes; and
d) the details of expenditure incurred during the last three years for export promotion schemes and objectives achieved so far?
ANSWER
THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (SHRI JYOTIRADITYA M. SCINDIA)
(a) & (b) The following new incentive schemes were introduced for promoting exports during the last three years:
• Status Holders Incentive Scheme was announced in August, 2009 with an objective to promote investment in upgradation of technology of certain sectors. Duty Credit Scrips for Status Holders @ 1% of FOB value of exports is granted under this scheme.
• Special Bonus Benefit Scheme was introduced in October, 2011 to provide special assistance to specified sectors in Engineering, Chemicals and Pharmaceutical for 6 months. The scheme covered 49 products for benefit @ 1% of FOB value of exports and has sunset on 31.3.2012.
• Special Focus Market Scheme was introduced with a view to increase the competitiveness of exports with a geographical targeting. The scheme provides additional 1 % duty credit when exports are made to 41 countries. This duty credit is over and above the 3% duty credit granted under Focus Market Scheme.
(c) & (d) A Monitoring Committee consisting of representatives of Directorate General of Foreign Trade and the Department of Revenue monitors the financial outgo under the schemes. An amount of Rs. 1350 crores has been provided as additional allocation for each of last three years 2009-10, 2010-11 and 2011-12 for expansion and deepening of items under Chapter 3 schemes of the Foreign Trade Policy 2009-14.
a) whether Government has introduced new schemes to promote export performance during the last three years;
b) if so, the details thereof;
c) whether there is any monitoring mechanism in place to evaluate the performance of these schemes; and
d) the details of expenditure incurred during the last three years for export promotion schemes and objectives achieved so far?
ANSWER
THE MINISTER OF STATE IN THE MINISTRY OF COMMERCE AND INDUSTRY (SHRI JYOTIRADITYA M. SCINDIA)
(a) & (b) The following new incentive schemes were introduced for promoting exports during the last three years:
• Status Holders Incentive Scheme was announced in August, 2009 with an objective to promote investment in upgradation of technology of certain sectors. Duty Credit Scrips for Status Holders @ 1% of FOB value of exports is granted under this scheme.
• Special Bonus Benefit Scheme was introduced in October, 2011 to provide special assistance to specified sectors in Engineering, Chemicals and Pharmaceutical for 6 months. The scheme covered 49 products for benefit @ 1% of FOB value of exports and has sunset on 31.3.2012.
• Special Focus Market Scheme was introduced with a view to increase the competitiveness of exports with a geographical targeting. The scheme provides additional 1 % duty credit when exports are made to 41 countries. This duty credit is over and above the 3% duty credit granted under Focus Market Scheme.
(c) & (d) A Monitoring Committee consisting of representatives of Directorate General of Foreign Trade and the Department of Revenue monitors the financial outgo under the schemes. An amount of Rs. 1350 crores has been provided as additional allocation for each of last three years 2009-10, 2010-11 and 2011-12 for expansion and deepening of items under Chapter 3 schemes of the Foreign Trade Policy 2009-14.
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