2.85 Admissibility of benefits on payment through insurance cover
(I) Payment through ECGC cover would count for benefits under FTP. (II ) Payment through General/ Private Insurance companies: Amount of Insurance Cover for transit loss by General Insurance and Private Approved Insurance Companies in India would be treated as payment realized for exports under various export promotion schemes. (a) An applicant realizing export proceeds through Insurance Agency will approach the concerned RA with the proof of payment issued by the concerned Insurance Agency. RA after satisfying itself of the bona fide of the claim, will obtain approval of Additional DGFT (EDI) and then will upload the value (in lieu of e BRC value) in EDI system of DGFT for processing of the case. (b) If the proof of payment ...
'Inflation under control, domestic investments need to pick up
The Dollar Business Bureau Inflation, in the past one year, has been under control to a great extent and the overall inflation situation during the period has been much better than it has been in the past one decade. A statement in this regard was made by the Union Finance Minister Arun Jaitley in his address at a press conference in New Delhi on Saturday. In his address to media, the Minister was quoted to have said, “Inflation has been brought under control in the past one year, however, the global economy and agrarian situations as well as domestic investments pose challenge to the Indian economy.” While a decline in international oil and commodity prices have resulted in controlled ...
