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Union Finance Minister Pranab Mukherjee on February 26, 2010, proposed to extend the concessional export finance regime of 2 per cent for select exporters for one more year till March 31, 2011. Earlier the scheme was to expire on March 31, 2011. This came as a welcome relief for the small and medium enterprises (SMEs), which were reeling under the pressures of global economic slump.
In his Budget speech Mukherjee said, “the Indian economy had weathered the crisis well but the main challenge was to make growth inclusive,” and this step was targeted towards insulating the employment-oriented sectors like handlooms, handicrafts, carpets and leather from the demand slowdown in the U.S. and Europe.
03 March, 2010 by admin