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Bilateral Indian exports increased across the board with UK registering 30% increase, Singapore 54%, South Africa 44%, and China at 35%. India is encouraging exports to “focus markets” such as Africa, Latin America, and Commonwealth of Independent States (CIS) through an extra import entitlement scheme of 2.5% of exports of “focus products” such as fish, handloom, handicrafts, leather, and stationery. There is also a plan in place to exempt exporters from service tax and the much-hated fringe benefit tax.
Given the huge oil bill each year, which is expected to only increase, it is high time that the Government introduces schemes that will subsidize the adoption of alternate modes of energy generation. While a perfunctory program exists, it is hardly neither evangelized nor encouraged.
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