Year: 2015

The Update of the World Economic Outlook (WEO) released in January 2015 by the IMF puts global growth projection for 2015 at 3.5 percent and at 3.7 percent for 2016. Global growth will receive a boost from lower oil prices – a result mainly of higher supply – but while the recovery in the United States was stronger than expected, economic performance in all other major economies, particularly Japan, fell short of expectations. The euro area growth projections are weaker Read Full Details…

Highlights Of The Foreign Trade Policy 2015-2020 A. SIMPLIFICATION & MERGER OF REWARD SCHEMES Export from India Schemes: 1. Merchandise Exports from India Scheme (MEIS) Earlier there were 5 different schemes (Focus Product Scheme, Market Linked Focus Product Scheme, Focus Market Scheme, Agri. Infrastructure Incentive Scrip, VKGUY) for rewarding merchandise exports with different kinds of duty scrips with varying conditions (sector specific or actual user only) attached to their use. Now all these schemes have been merged into a single Read Full Details…

* Increase in basic custom duty: -Metallergical coke from 2.5 % to 5%. -Tariff rate on iron and steel and articles of iron and steel increased from 10% to 15%. -Tariff rate on commercial vehicle increased from 10 % to 40%. *Basic custom duty on digital still image video camera with certain specification reduced to nil. *Excise duty on rails for manufacture of railway or tram way track construction material exempted retrospectively from 17-03-2012 to 02-02-2014, if not CENVAT credit Read Full Details…