ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Tax Laws-All Teeth, No Bite

According to the agreement between India and Sudan, covering the 18- month period from June 1971 to December 1972, the total turnover of trade between the two countries was to be Rs 62 crores. But as against Indian exports of Rs 40 crores upto the end of June, our imports from that country totalled only Rs 27 crores, leaving a trade surplus of Rs 13 crores* Sudan had exhausted the technical credit limit offered by India bv about June and so found it impossible to continue importing goods from India. Also, in respect of a number of commodities like textiles and tea, our exports had already reached or even exceeded the targets set for them, six months before the end of the term of the agreement. In fact, much before our trade with Sudan came to a sudden standstill, after the Government of India took the extraordinary step of imposing an informal ban on exports to that country, Sudan had begun to send out danger signals by not issuing import licences for imports from India. In view of this, it is difficult to understand why the government did not take steps in time to gradually slow down our exports instead of giving a Midden jolt by virtually suspending all exports at one stroke.

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