In the backdrop of global economic slowdown, the exports front has been drastically hit and the exporters'' community can expect some incentives in the budget. The export promotion councils as well as the Federation of Indian Export Organisations (FIEO) had met Finance Minister Pranab Mukherjee and Commerce and Industry Minister Anand Sharma and proposed incentives, including credit at 7 per cent interest rate as well as income tax holiday for five years.
The country''s merchandise exports grew just 3.4 per cent to $168.7 billion in the second half of 2008-09 due to global downturn.
But on the other hand, the shipments have been dropping for eight consecutive months since October 2008, that costing 5 million jobs, as per FIEO estimates.
The exporters say they are working on thin margins and taxation of the profit leaves them with no money for modernisation and expansion of manufacturing facility.
The country''s merchandise exports grew just 3.4 per cent to $168.7 billion in the second half of 2008-09 due to global downturn.
But on the other hand, the shipments have been dropping for eight consecutive months since October 2008, that costing 5 million jobs, as per FIEO estimates.
The exporters say they are working on thin margins and taxation of the profit leaves them with no money for modernisation and expansion of manufacturing facility.
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