Vyavasaya Nadham April 2013 - KSSIA Kottayam

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............................................................................................................................................ hyhkmb\mZw Government Announces the New Foreign Trade Policy MORE SOPS FOR PROMOTING EXPORTS, roled out Rs. 3000 Crore package to encourage exports. Last 3 months export performance is attractive, shipments rose for 3 months in a row so far in 2013. In the new policy * Investment in SEZs made more attractive. Export rose 7% in March to $30.84 million while imports contracted by 2.87 % to $41.1.Billion, helping to cut the trade deficit by $10 million. For the full year, exports were marginally lower than last year at $300.6 billion, while imports were up 0.44% to $491 billion yielding a trade gap of $191 billion. Major Policy announcement • Zero duty capital goods imports scheme to all sectors. • More contries were added to the list of incremental export incentive scheme • 2% interest subsidy to all exports related credit facilities from banks. • Focus market and Focus product scheme will now cover more countries and large number of products:-5% special incentive scrips on FOB value of exports. Comments : No major announcements. : An export development Fund expected –but not announced. : No export target is also announced. However Govt mulls higher Foreign Direct Investment in Defense Sector. ..................................................................................................................................... Government’s New Land Acquisition Bill Government of India has reached to a broad consensus over the land Acquisition Bill with the opposition. Now if the bill is passed * State to lease rather than acquire land from farmers also. * A provision to compensate those who had sold land after September 5, 2011. ..................................................................................................................................... Monetary and Financial Expectations from the Annual Monetary Policy Refer RBI’S regional Survey, May 2013 Interest Rates:- I Feel Strongly that there are favourable situations in the Indian economy to reduce the interest rates. The factors supporting this view are, inflation overall coming down, Govt has met the revised estimates on direct and indirect tax collections, deposit & lending issues are moderately active, industrial production showing upward trend though not significantly. Therefore the requested reduction in interest rates by RBI if to be announced would definitely boost the economy at micro level. 8 THE HOME JOURNAL OF KERALA STATE SMALL INDUSTRIES ASSOCIATION, KOTTAYAM
............................................................................................................................................ hyhkmb\mZw Gold Control Since Gold prices are falling the investment attraction on it may once again go up leaving other investment opportunities less attractive. Persistent inflation make gold investments again as a targeted opportunity. Hence import duty on gold has to be revised. Conceding the demand for one independent Central bank favourabliy a mutual collaborative approach between RBI &Govt of India in policy formulations will do a world of good for the growing Indian economy. ..................................................................................................................................... Exchange Rates High Depreciated IR shall help at least on a shorter run to enhance export competitiveness of Indian goods and non software services. Inadequacy of credit flow to Micro & Small Industries. At Present Commercial Banks and mostly State Financial institutions are following a credit appraisal system and the basis of lending is the Naik Committee report. It recommends 20% of the actual or projected turnover as the overall limit banks can be sanctioned. The entire market conditions are changed during the last 10-15 years, therefore RBI has to think of formulating a revised credit appraisal taking into account number of other factors in the trade and economy. Xavier Thomas Kondody FINANCIAL LITERACY Proper finacnce management is the prerogative of the wealthy. India is a Country in which the issue of financial literacy as a subject for learning has come of importance very late. All people, across all social boundaries, should know how their actions affect there work place financially. In fact every individual and every family must learn to manage their finance well for their sustained well-being and growth. There are small business people for whom it is just as important to understand the principles of good financial management as it is for the largest corporate house. For India to continue its Phenominal growth, it is important that each and every individual in this country should be financialy literate. Reserve Bank of India has already initiated financial literacy centers for new entreprenuers under a few nationalised banks. 'State Bank of Travancore' has one of its centre in Kottayam. New entrepreners are asked to attend 30 days development oriented training in before commencing their new enterprises. Contact: 9847046229 THE HOME JOURNAL OF KERALA STATE SMALL INDUSTRIES ASSOCIATION, KOTTAYAM 9
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Vyavasaya Nadham April 2013 - KSSIA Kottayam

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