New Delhi: In order to give a boost to exporters, reeling under the impact of the global financial meltdown, the government on Thursday said that various schemes like DEPB that provide incentives to exporters would continue.
“We have taken conscious decision to continue with the DEPB scheme up to December 2010, and also income tax benefits under section 10(A) for the IT industry...,” commerce minister Anand Sharma said while unveiling the Foreign Trade Policy here.
The Duty Entitlement Passbook (DEPB) Scheme, under which duty credit is provided to exporters, has been extended for another year. This scheme was to end on December 2009.
The minister further said that 100% Export Oriented Units (EOUs) and STPI (Software Technology Park) units would be entitled to various tax benefits in the next fiscal.
“Under section 10(B) for 100% export oriented units would continue for one more additional year till 31st March 2010,” the policy added.
India has set a target of $200 billion worth exports for next fiscal, a feat that it failed to achieve in 2008-09 due to a slump in global demand in the face of financial crisis.