AIEEE Paper Leak Cost

Today, AIEEE paper leaked and I just estimated its direct association with our economy. Here is the figure that will amaze you about how a culprit in the greed of few lakh Rupees can harm our National Economy. Total Students to appear (my estimate at minimum side): 12...

New Overseas I-Tax Units

8 New ITOUs to be Operationalised in Next Fiscal The Minister of State for Finance, Shri S.S. Palanimanickam, in written reply to a question raised in Lok Sabha today, said that the Government has taken steps to operationalise 8 new Income Tax Overseas Units (ITOUs)...

F.C.C. going to Regulate Net Access!

STATEMENT BY FCC COMMISSIONER MIGNON L. CLYBURN ON FCC MEETING TO VOTE AN ORDER PRESERVING THE OPEN INTERNET “The open Internet is a crucial American marketplace, and I believe that it is appropriate for the FCC to safeguard it by adopting an Order that will establish...

Govt to check for Active Mobile Users

A decision has been taken by the Department of Telecommunications that an exercise should be done on pilot basis in a representative area to know the actual number of active users {Visitor Location Register (VLR) based} as against number of active Subscriber Identity...

India: Export Incentives

1. New Products under Focus Product Scheme (FPS):

1.1 112 new products added under FPS at 8 digit level, eligible for benefits @ 2% of FOB value of exports to all markets.

Major sectors include Engineering, Electronics, Rubber, Chemicals, Plastics, Carton boxes and Egg powder.

1.2 113 new products at 8 digit level given higher benefits @ 5% of FOB value of exports under Special FPS on exports to all markets.

Major sectors include Hand Tools, parts of agriculture & horticulture machinery, sewing machines and parts, liquid pumps, nuts, bolts, washers, screws, staplers, and parts of machinery for soldering, brazing and welding.

2. New Products and New Markets under Market Linked Focus Product Scheme (MLFPS):

2.1 1837 new products added under MLFPS at 8 digit level, eligible for benefits @ 2% of FOB value of exports to specified markets.

Major sectors include Machine Tools, Earth moving equipments, Transmission towers, Electrical and Power Equipments, Steel Tubes, pipes and galvanized sheets, Compressors, Iron and Steel Structures, Auto components, Three wheelers and cotton woven fabrics. (Chemicals have been included for providing benefit for a limited period of 6 months).

2.2 Two new major markets viz. China and Japan added under MLFPS.

3. New products under Vishesh Krishi and Gram Udyog Yojana (VKGUY):

Sesame seeds and minor coconut products added under VKGUY scheme, eligible for benefits @ 5% of FOB value of exports to all markets.

4. New market added under Focus market Scheme (FMS):

Timor Leste added as new FMS country, eligible for benefits @ 3% of FOB value of exports of all products.

5. Support under Market Access Initiative (MAI) scheme, for setting up of Warehouse in Latin America by Export Promotion Council for Handicrafts.

6. Issues taken up with Ministry of Finance ( on which MoF is still to take a final view)

6.1 To allow reduced rate of interest for Dollar credit at LIBOR plus 1% (instead of LIBOR plus 3.5%).

6.2 Continuation of Interest Subvention of 2% provided to labour incentive sectors viz. Textiles (including handlooms), Handicrafts, Carpets, Leather, Gems & Jewellery, Marine products and SMEs.

6.2 Providing interest subvention of 2% to some additional sectors viz. specified Engineering sectors and Chemicals.

6.3 To request RBI to instruct commercial banks for non-crystallization of overdue export proceeds for a period of 6months from due date (instead of 1 month at present) in respect of two sectors viz. Carpets and handicrafts.
[size=xx-small][Source: PIB][/size]