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Government to increase duty incentives for exports of milk products.


Date: 22-09-2018
Subject: Government to increase duty incentives for exports of milk products
The government has again decided to increase duty benefits for exports of milk and certain milk products under MEIS scheme to boost their overseas shipments, an official said.

Earlier in July, the government enhanced the duty benefits to 10 per cent under the Merchandise Export from India Scheme (MEIS) for certain agriculture and dairy sector items.

"Now, it has been decided to increase export incentives on milk and certain milk products from 10 per cent to 20 per cent for about four months up to January 12 next year under MEIS," the government official said.

The 28 items covered under the enhanced incentives include cheese, whole milk, skimmed milk, milk and milk food for babies, condensed milk, yoghurt, butter milk and whey.

The Department of Revenue has made additional financial allocation of Rs 21.40 crore to meet the expenditure to be incurred on these incentives. "Notification in this regard will be released soon by the Directorate General of Foreign Trade (DGFT)," the official added.

The move assumes significance on account of milk crisis in Maharasthra. Milk growers had strongly protested in some parts of Maharasthra due to fall in milk prices amid huge supply.

Commerce and Industry Minister Suresh Prabhu had earlier taken up the matter with his finance counterpart and had written for increase in export incentives from 10 per cent to 20 percent.

Although the commerce ministry had sought Rs 57.04 crore for whole of the year but the Department of Revenue allocated only Rs 21.40 crore.

Source: moneycontrol.com

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