Export deception
Sunday, May 29, 2022
  • Circulation
  • Advertise
  • About Us
  • Contact Us
  • Privacy Policy
Organiser
  • ‌
  • Bharat
  • World
  • Editorial
  • Analysis
  • Opinion
  • Defence
  • Sports
  • Business
  • More
    • RSS in News
    • Special Report
    • Culture
    • Sci & Tech
    • Entertainment
    • Education
    • Books
    • Interviews
    • Travel
    • Health
    • Obituary
SUBSCRIBE
No Result
View All Result
Organiser
  • ‌
  • Bharat
  • World
  • Editorial
  • Analysis
  • Opinion
  • Defence
  • Sports
  • Business
  • More
    • RSS in News
    • Special Report
    • Culture
    • Sci & Tech
    • Entertainment
    • Education
    • Books
    • Interviews
    • Travel
    • Health
    • Obituary
No Result
View All Result
Organiser
No Result
View All Result
  • Home
  • Bharat
  • World
  • Editorial
  • Opinion
  • Analysis
  • Culture
  • Defence
  • RSS in News
  • Subscribe
Home General

Export deception

Archive Manager by Archive Manager
Feb 5, 2006, 12:00 am IST
in General
Jeay Sindh Freedom Movement chairman Sohail Abro

Jeay Sindh Freedom Movement chairman Sohail Abro

Share on FacebookShare on TwitterTelegramEmail


By Geeta

A 14-member exporters delegation met Prime Minister Manmohan Singh on January 24 seeking his intervention for making the Indian exports competititive by giving them incentives like refund of the various local taxes. When the Prime Minister checked with the Finance Ministry, it was revealed that the government has already disbursed Rs 8000 crore under the Target Plus Scheme of the Commerce Ministry. The exporters? team, under the aegis of the Federation of Indian Export Organisations (FIEO) were in for a shock. None of the genuine exporters who create three million jobs in the country, received a penny from the money shown in the books as spent on the Target Plus scheme. ?We told the government please show us the names of the exporters who have received this money, equivalent to two billion dollar,? spent in the name of promoting exports.

Obviously, the money has gone to ??exporters? close to the top people in the government which now sees genuine exporters knocking at its doors for relief.

The Target Plus scheme was announced by the NDA Government and it was meant to reward the exporters who would achieve the incremental growth in their foreign exchange earnings. While the scheme was announced by then Commerce and Industry Minister Arun Jaitley, it was left to Mr Kamal Nath to implement it by framing rules. ?Rules were obviously made to help certain people in the name of export,? said a leading Delhi-based exporter.

It is only now that the Prime Minister Office is believed to be opposing the Target Plus scheme which has been milked by the unscruplous friends of the government. Tussle between the Commerce and Finance Ministries over the exporters? scheme has been going on for quite some time. There are so many differences between the two senior ministers in the government that it is very often that the crucial issues like DEPB (Duty Entitlement Pass Book) tax are referred to the Economic Advisory Council in the PMO. ?But for the issue being referred to the PMO, we would not have got issue relating to the DEPB taxation resolved,? senior exporter said.

While the PMO does come and intervene between the wrangling ministries, how would it handle the Rs 8000-crore (two billion dollar) scam around the Target Plus scheme which is about to be scrapped. While the scheme, after its abuse, is thrown to the bin, would there be a vigilance inquiry into the scandal? The PMO must try and explain!.

While the scamsters flourish under the present dispensation, genuine exporters continue to suffer a heavy transaction cost with the result that the optimistic target of 100 billion dollar exports would remain a far cry. In the first three quarters of this fiscal, India had a trade deficit of about 30 billion dollar plunging the country'scurrent account into a deficit after several years. The government thinks it could bridge this gap by the FII (foreign institutional investors) inflows into the highly volatile stock market.That would be too risky a proposition for the country.

ShareTweetSendShareSend
Previous News

Uniform personal law to define nationhood

Next News

Partial application: Apropos Religions should renew and reassess (Organiser, 8-1-2006);

Related News

Self-Help Group from Thanjavur wins PM’s praise in Mann Ki Baat

Self-Help Group from Thanjavur wins PM’s praise in Mann Ki Baat

#MannKiBaat: Yoga Day 2022 to be unique and will follow Sun’s ‘Guardian Ring’ : PM Modi

#MannKiBaat: Yoga Day 2022 to be unique and will follow Sun’s ‘Guardian Ring’ : PM Modi

Bill Gates lauds India’s vaccination drive in meeting with Mansukh Mandaviya at Davos

Bill Gates lauds India’s vaccination drive in meeting with Mansukh Mandaviya at Davos

Indian Railways’ engineering marvel, New Pamban Bridge, to be ready in a year

Indian Railways’ engineering marvel, New Pamban Bridge, to be ready in a year

India’s daily cases fall below 3,000-mark, logs in 2,568 new COVID-19 infections

India reports 2,828 new COVID-19 cases, 14 deaths in last 24 hours

Systematic Uyghur genocide depicts human rights abuses against ethnic minorities in China: Report

Chinese Minister says China’s human rights protection will be aligned to national ‘conditions’

Comments

The comments posted here/below/in the given space are not on behalf of Organiser. The person posting the comment will be in sole ownership of its responsibility. According to the central government's IT rules, obscene or offensive statement made against a person, religion, community or nation is a punishable offense, and legal action would be taken against people who indulge in such activities.

Latest News

Self-Help Group from Thanjavur wins PM’s praise in Mann Ki Baat

Self-Help Group from Thanjavur wins PM’s praise in Mann Ki Baat

#MannKiBaat: Yoga Day 2022 to be unique and will follow Sun’s ‘Guardian Ring’ : PM Modi

#MannKiBaat: Yoga Day 2022 to be unique and will follow Sun’s ‘Guardian Ring’ : PM Modi

Bill Gates lauds India’s vaccination drive in meeting with Mansukh Mandaviya at Davos

Bill Gates lauds India’s vaccination drive in meeting with Mansukh Mandaviya at Davos

Indian Railways’ engineering marvel, New Pamban Bridge, to be ready in a year

Indian Railways’ engineering marvel, New Pamban Bridge, to be ready in a year

India’s daily cases fall below 3,000-mark, logs in 2,568 new COVID-19 infections

India reports 2,828 new COVID-19 cases, 14 deaths in last 24 hours

Systematic Uyghur genocide depicts human rights abuses against ethnic minorities in China: Report

Chinese Minister says China’s human rights protection will be aligned to national ‘conditions’

HUGE Security layer deployed as PM Modi & Amit Shah to attend GT vs RR IPL Final

HUGE Security layer deployed as PM Modi & Amit Shah to attend GT vs RR IPL Final

Kerala govt hand in glove with terrorist groups: MoS V Muraleedharan on PFI sloganeering

PM Modi lauds success of cooperatives in Gujarat, says self-reliance solution to many difficulties faced by the country

PM Modi lauds success of cooperatives in Gujarat, says self-reliance solution to many difficulties faced by the country

US slams China for ‘restricting, manipulating’ UN human rights chief’s visit

US slams China for ‘restricting, manipulating’ UN human rights chief’s visit

  • Circulation
  • Advertise
  • About Us
  • Contact Us
  • Privacy Policy

© Bharat Prakashan (Delhi) Limited.
Tech-enabled by Ananthapuri Technologies

No Result
View All Result
  • Home
  • Bharat
  • World
  • Editorial
  • Analysis
  • Opinion
  • Defence
  • Culture
  • Sports
  • Business
  • RSS in News
  • Special Report
  • Sci & Tech
  • Entertainment
  • Education
  • Books
  • Interviews
  • Travel
  • Health
  • Obituary
  • Subscribe
  • About Us
  • Advertise
  • Circulation
  • Contact Us
  • Privacy Policy

© Bharat Prakashan (Delhi) Limited.
Tech-enabled by Ananthapuri Technologies