Vyavasaya Nadham April 2013 - KSSIA Kottayam
Vyavasaya Nadham April 2013 - KSSIA Kottayam
Vyavasaya Nadham April 2013 - KSSIA Kottayam
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Government Announces the New Foreign Trade Policy<br />
MORE SOPS FOR PROMOTING EXPORTS, roled out Rs. 3000 Crore package to encourage<br />
exports. Last 3 months export performance is attractive, shipments rose for 3 months in a row so<br />
far in <strong>2013</strong>.<br />
In the new policy<br />
* Investment in SEZs made more attractive.<br />
Export rose 7% in March to $30.84 million while imports contracted by 2.87 % to $41.1.Billion,<br />
helping to cut the trade deficit by $10 million.<br />
For the full year, exports were marginally lower than last year at $300.6 billion, while imports<br />
were up 0.44% to $491 billion yielding a trade gap of $191 billion.<br />
Major Policy announcement<br />
• Zero duty capital goods imports scheme to all sectors.<br />
• More contries were added to the list of incremental export incentive scheme<br />
• 2% interest subsidy to all exports related credit facilities from banks.<br />
• Focus market and Focus product scheme will now cover more countries and large number of<br />
products:-5% special incentive scrips on FOB value of exports.<br />
Comments : No major announcements.<br />
: An export development Fund expected –but not announced.<br />
: No export target is also announced.<br />
However Govt mulls higher Foreign Direct Investment in Defense Sector.<br />
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Government’s New Land Acquisition Bill<br />
Government of India has reached to a broad consensus over the land Acquisition Bill with the<br />
opposition.<br />
Now if the bill is passed<br />
* State to lease rather than acquire land from farmers also.<br />
* A provision to compensate those who had sold land after September 5, 2011.<br />
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Monetary and Financial Expectations from the Annual<br />
Monetary Policy<br />
Refer RBI’S regional Survey, May <strong>2013</strong><br />
Interest Rates:-<br />
I Feel Strongly that there are favourable situations in the Indian economy to<br />
reduce the interest rates. The factors supporting this view are, inflation overall<br />
coming down, Govt has met the revised estimates on direct and indirect tax collections,<br />
deposit & lending issues are moderately active, industrial production showing upward<br />
trend though not significantly. Therefore the requested reduction in interest rates<br />
by RBI if to be announced would definitely boost the economy at micro level.<br />
8 THE HOME JOURNAL OF KERALA STATE SMALL INDUSTRIES ASSOCIATION, KOTTAYAM