NEW DELHI, Feb 2 (UNI) Having received sops from commerce and industry minister Arun Jaitley in the mini-exim policy, exporters' eyes are turned on finance minister Jaswant Singh who is expected to announce tomorrow,in his Interim budget, a few more 'feel good' measures for the exporting community in the form of availability of cheap credity and fiscal incentives.
"The two issues which the exporters want addressed are availability of foreign currency credit at libor plus 0.75 per cent and concessions under section 35 b under the Income Tax Act," additional Director General of the Federation of Indian Export Organisations (FIEO) Ajay Sahai told UNI.
While the offer of Foreign Exchange Credit at Libor Plus 0.75 per cent has already been cleared in principle, the Reserve Bank of India has to ensure the implementation.
At present, the banks are not able to make it available since they do not have enough of dollars with them.
Besides, the exporters, faced with a difficult global market, have been clamouring for income tax benefits on their business.
The exemption of export profit had been removed and the government is not likely to restore the same.
However, exporters expect relief under section 35 b.
Under this section, exporters used to get deduction of 133 per cent if their earnings were ploughed back.
Exporters feel since the government is in a mood to give sops in the pre-election annoucement, the finance minister will have some thing for them as well when he unveils his vote-on-account.
Earlier this week, Jaitley had his share of pre-poll bonanza including free import of gold and silver, duty-free imports for the hospitality sector and a slew of concessions for the manufacturing sector.
After a bad showing in the major part of the fiscal 2003-04, exports bounced back in december showing a growth of 43 per cent.
If the trend continues and the government extends more friendly policies, the target of 12 per cent growth could be achieved, exporters say.
He was a quiet chap: Gen Aurora NEW DELHI, Feb 2 (UNI) The Indian army officer who then told Pakistan's general Amir Abdullah Khan Niazi to give up during the 1971 Bangladesh war today remembered his former collegemate as 'a man of few words'.
I came to know him first when we were together at a college in Quetta and after that I met him during the Bangladesh war.
He has been a quiet chap," Lt Gen (Retd) Jagjit Singh Aurora, then GOC in C (Eastern command), told UNI in his reaction to the death of the Pakistani general who died late last night following a heart attack.
"He was a good man but one with few words," Lt-Gen Aurora said as he recalled the historic surrender of General Niazi and his troops before Indian forces in 1971.
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