Delhi: The ''annul
trade policy for 2007'' notified today has exempted
services exports from service tax. The policy has also
expanded the scope of a host of schemes to boost merchandise
exports while fixing a target of $160 billion for 2007-08.
''annul trade policy for 2007'' is an annual supplement
to the 5-year ''foreign trade policy: 2004-2009''
the 2007 supplement, commerce and industry minister
Kamal Nath said the export target of $125 billion for
2006-07 has been met and the government hopes to achieve
$160 billion in the current financial year.
said that in addition to merchandise exports, exports
of services accounted for another $76.10 billion.
''vishesh krishi'' and ''gram udyog yojana'' for promoting
agriculture exports has been expanded to include soyabean
and coconut oil as well as food preparations such as
government has also extended the popular duty entitlement
passbook (DEPB) scheme for exporters till March 2008.
A new scheme to replace DEPB would be finalised by then,
the focus product and focus market schemes have been
expanded to include additional items and 16 more countries.
The corpus of focus product scheme has been increased
to Rs1,000 crore from Rs650 crore last fiscal.
a bid to encourage SEZs, Nath said, developers and co-developers
of these zones would be covered under duty refund schemes.