Prabhu seeks more funds from FinMin to increase incentives on onion exports
Commerce Minister Suresh Prabhu has sought Rs 179.16 crore from the finance ministry to double the incentives for onion exporters amid significant fall in prices of the vegetable.In a communication to Finance Minister Arun Jaitley, Prabhu said the ministry is keen to increase export incentives under MEIS from 5 per cent to 10 per cent. Under Merchandise Exports from India Scheme (MEIS), the government provides duty benefits depending on product and country.Rewards under the scheme are payable as percentage of realised free-on-board value and MEIS duty credit scrip can be…
Read More