Reduction in insurance cost for exporters, ECGC
The Dollar Business Bureau In a much-needed relief to the exporters, the Export Credit Guarantee Corporation (ECGC) in its 60th year of operation has taken a customer friendly step by reducing the premium rate by an average of 17% for its whole turnover policy covers. This has reduced the transaction costs for short term business exporters from Rs.28.19 to Rs 25.46 per Rs 100 during FY 2016-17. The premier Export Credit Agency has also initiated several customer friendly steps to boost exports. In its press release on May 31st, the agency has listed out the initiatives taken during FY 2016-17. The agency has taken steps to make Export Factoring Scheme, cheaper for MSMEs. To give a fillip to the Medium & Long Term (MLT) ...
Fifteen new airports to widen air connectivity among smaller cities
The Dollar Business Bureau In order to improve air connectivity in smaller cities, the government has granted “in principle” approval for setting up of 15 greenfield airports across the country. Greenfield airports are set up on undeveloped land with an aim to cater to the areas that are yet to be connected to the existing airports. Upcoming airport projects are planned in Mopa in Goa, Navi Mumbai, Shirdi and Sindhudurg in Maharashtra. Karnataka will have four such airports at Bijapur, Gulbarga, Hasan and Shimoga, while Kerala will get two— Kannur and Aranmula. Besides, Durgapur in West Bengal, Dabra in Madhya Pradesh, Pakyong in Sikkim, Karaikal in Pudducherry and Kushinagar in Uttar Pradesh will also be covered under the ...
