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Nov - Indian Economic Policies - Coggle Diagram
Nov - Indian Economic Policies
Liberalised Remittance Scheme
RBI
allow resident individuals
open,maintain and hold foreign currency acc
with banks outside India
remit a certain
amount of money
upto $250,000
during financial year
to another country
for investment and expenditure
LRS restricts
buying and selling
foreign exchange abroad
purchase of lottery tickets
sweep stakes
proscribed magazines
restricted items under
Schedule II of Foreign Exchange Management (Current Account Transactions) Rules, 2000.
cant make remittances
directly or indirectly to countries
identified by
FATF
Viscose
semi-synthetic material
used in clothes
manufactured fibre
made from natural materials
India has negligible share
0.5% share in global market
other countries
Bangladesh 7%
Vietnam 6.4%
women´s dresses
made for artificial fibre, viscose
attracts anti-dumping duty
($0.103 to $0.512 a kg)
major fibres consumed
Cotton, polyester, viscose and linen
Anti – Dumping Duty (ADD)
protectionist tariff
domestic government
imposes on foreign imports
believes
priced below fair market value
Dumping Process
company exports
product at lower price
lower than price
it normally charges
on its own home market
Inverted duty structure
taxation of inputs
at higher rates
than finished products
result in
build-up of credits
and cascading costs
impact
domestic industry adversely
manufactures have to pay
higher price
for raw material
in term of duty
discourages
domestic value addition
while
finished goods
at lower duty and cost
corrected duty structure
reduce
cost of intermediate
inputs imported
for manufacturing of exports
thereby
making country´s exports
more competitive
right incentive
for boosting manufacturing
and also increase
growth of exports