Rs. 56,418 cr forgone in SEZ-tax-sops in 9 months
The Dollar Business Bureau According to a written reply by Nirmala Sitharaman, Minister for Commerce and Trade, the government has “foregone” Rs. 56,418 crore in tax collections for special economic zones. The letter addressed to Lok Sabha, points that the amount was foregone in nine months (April-December) of FY 2016-17. These special economic zones contributed exports of Rs. 3.58 lakh crore during the specified period. The letter further mentions that SEZ zones had received duty exemptions worth Rs 52,216 crore between the year 2015-16 and contributed exports worth Rs 4,67,337 crore. While the introduction of SEZ’s was suggested to improve manufacturing index in the country, in recent times the concept has only led to a debate on the unviable tax-sops and operational efficiencies. ...
'Government must regulate import of natural rubber to protect domestic industry
The Dollar Business Bureau The government should regulate the import of natural rubber during peak season through designated ports and must ensure quality check to protect the domestic industry, a parliamentary panel has said. “Imports should be need based and the quantum of imports may be determined on the basis of the gap between the domestic production and consumption,” said the parliamentary standing committee in its report presented in the parliament on Thursday. Expressing concern over steep fall in the price of natural rubber, the panel asked for an immediate intervention from the government. “Unless the necessary measures are taken, there is a possibility of growers shifting to other crops,” it said. The panel also took note of the challenges faced ...
