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

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Export-Import Policy

THE revisions effected in the five-year (1992-97) export- import policy, though not earth-shaking, represent a further attempt to squeeze export surpluses from a sluggish economy, The five-year exim policy, introduced in April 1992, was radically revised last year in order to pay special attention to the growth of exports from agriculture and allied sectors. As many as 146 items were removed from the negative list of exports and export incentives were augmented through extension of duty drawback to 333 new items and improvement in the drawback rates for 84 products. While announcing the latest revisions, the commerce minister has said that last year's "measures have yielded handsome dividends" in the form of a 45.3 per cent rise in exports of agriculture and allied sectors, exposing the government's unconcern for the distortion of the structure of the country's export-import trade. Even the exports of so-called engineering goods consist, to the extent of some two-thirds, of products which are as good as raw materials.

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