Scindia wants stimulus to continue for now

Exporters need more time to recover completely, says the minister

PTI | February 10, 2010



The commerce ministry wants the stimulus packages for exporters to continue for some more time till the sector recovers completely.

"We have urged the finance ministry that incentive schemes relating to commerce and industry be carried on for a slightly longer period," MoS for Commerce and Industry Jyotiraditya Scindia said on the sidelines of a seminar here on Tuesday.

Asked how long he would like the stimulus package to be extended to exporters, Scindia said, "we haven?t defined that as yet, but we have said it needs to be in place. I would like to see the stimulus packages in place until there is complete recovery.

"Specifically, we have looked at three-four areas in terms of getting cheaper dollar credit for exporters like 1 per cent above Libor against the present 3-4 per cent, extending the export-oriented units' benefits and interest subvention.

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