Incentives may be rolled back due to rise in Exports

The Finance Ministry may withdraw fiscal sops handed out to exporters as the Government looks for ways and means to rein in the fiscal deficit. Commerce Secretary Rahul Khullar said the his fear is that North Block (Finance Ministry) guys are having a hard look (at the numbers) to fix the budgetary hole and easy target are exporters.
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India’s export had contracted for 13 successive months before turning positive last month amid drying out of orders from countries in Europe and the US. Some Sectors have recovered and fared well in November. He thinks they could look at withdrawing the subsidies to some sectors said by Mr.Khullar.

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