Page 12 - BANKING FINANCE OCTOBER 2021

ROUNDUP

Trade Practices ) Regulations by cer- Tirupati, Jabalpur and Jalgaon to tainer shortage were also discussed.
tain entities while trading. privatise. In an attempt to entice in- It's an ongoing process," another offi-
vestors with high scale and size, the cial said.
Nod to Rs. 10000-crore PLI clubbing will be Varanasi with
Kushinagar and Gaya, Amritsar with Finance Ministry releases
for textiles Kangra, Bhubaneswar with Jharsuguda
The Union Cabinet approved the pro- and Indore with Jabalpur. Rs. 9,871 crore to 17 states
duction-linked incentive (PLI) scheme as revenue deficit grant
for textiles for a budgetary outlay of Rs Govt to clear exporters' Union Finance Ministry released the
10,683 crore to boost domestic manu- sixth monthly installment of Post Devo-
facturing of man-made fibres (MMF), dues worth Rs. 56,027 cr lution Revenue Deficit (PDRD) grant of
garments, and technical textiles. The government will clear all arrears Rs. 9,871 crore to the eligible states.
under various export-incentive
Incentives worth Rs 10,683 crore will With this, a total of Rs. 59,226.00 crore
schemes to help exporters address
be provided over five years for manu- their liquidity concerns. In pursuit of has been released as PDRD grant this
facturing these products. The scheme this, it will release Rs 56,027 crore this financial year.
is focused at expanding MMFs and fiscal year, Commerce and Industry PDRD grant is released to the state
technical textiles' value chain and will Minister Piyush Goyal said. under the Article 275 of the Constitu-
help India regain its dominant status in tion. The grants are released as per
the global textile trade, at a time when The claims include those pertaining to the recommendations of the Fifteenth
India's share of global exports has the Merchandise Exports from India Finance Commission in monthly install-
gradually declined over the years. Scheme (MEIS), Services Exports from
India Scheme (SEIS), Rebate of State ments to meet the gap in revenue ac-
Levies (RoSL), Rebate of State and Cen- counts of the states post devolution.
AAI clears privatisation of
tral Taxes and Levies (RoSCTL), and
13 additional airports other scrip-based schemes related to Govt allows disinvested
The board of Airports Authority of In- past policies. PSUs to set off previous
dia (AAI) has given the green signal to
privatise 13 airports by early next year- Govt to reintroduce TMA losses
six major ones and seven smaller ones scheme for farm exporters Ahead of the strategic disinvestment
that will be clubbed with the bigger of Air India and BPCL, the government
The government is likely to re-intro-
ones. This is the first major asset said losses incurred by disinvested pub-
duce the transport and marketing as-
monetisation initiative of the Centre as sistance (TMA) scheme for the next lic sector undertakings in previous
part of its ambitious National two-three years, to support farm ex- years can be carried forward and set
Monetisation Pipeline (NMP). off.
porters at a time when exporters are
The government has set a target of grappling with challenges such as high "In order to facilitate the strategic dis-
bringing in private investment of Rs freight costs and container shortage. investment, it has been decided that
3,660 crore in airports by the financial Section 79 of the Income-tax Act, 1961,
A person aware of the matter said that
year 2024. The NMP aims to unlock shall not apply to an erstwhile public
the decision was taken in a meeting on
investments in public sector assets 'export logistics Issues and their reso- sector company which has become so
spread across 13 sectors, from roads lution', where Commerce and Industry as a result of strategic disinvestment,"
and railways to airports and urban real Minister Piyush Goyal, Minister of the CBDT said. "Accordingly, loss in-
estate. State for Commerce and Industry curred in any previous year prior to,
The AAI board has identified six major Anupriya Patel, and railway minister and including, the previous year of
strategic disinvestment shall be car-
airports-Varanasi, Amritsar, Ashwini Vaishnav were also present. "A
ried forward and set off by the erst-
Bhubaneswar, Trichy, Indore and notification is expected soon," the of-
while public sector company."
Raipur-and seven smaller airports- ficial cited above said. "Other mea-
Jharsuguda, Gaya, Kushinagar, Kangra, sures to deal with the issue of con- "The above relaxation will cease to

12 | 2021 | OCTOBER | BANKING FINANCE