EXPORTERS STILL DISAPPOINTED

Though the excise duty has been cut and in addition to that a huge sum of Rs. 1,100 crore has been allocated by the government in an act to lend a helping hand to the exporters, they are still unhappy. The Export Credit Guarantee Corporation were not interested in the policy known as the single buyer policy, but the scheme newly introduced by the government has forced them to go back to the single buyer policy in order to enjoy the benefits given by the government. Exporters are disappointed due to the fact that no announcement has been made regarding the duty drawback scheme and the duty entitlement passbook. They had expected a full package including the rise of duty drawback rates and the extension of the export credit to 270 days from the present 180 days. As the mini budget did not meet their expectations as there were no plans of change in the duty drawback rates in it. In addition there also were no announcements regarding the extension in the credit period from the present 180 days to 270 days. This has greatly disappointed the exporters. One fact to be noted here is that this disappointment prevails even after the allocation of Rs. 1, 100 crore by the government for the rescue of exporters. The exporters are expecting further steps from the government’s side.