Government proposes to give a sector-specific package for refund of taxes and levies to exporters hit by a sharp rise in rupee value, Commerce and Industry Minister Kamal Nath said on Monday.
Maintaining his optimism that India will achieve export target of $160 billion for 2007-08 despite currency related troubles, Nath said his ministry is preparing a Cabinet note for expanding coverage of refunds to exporters.
"We are looking at measures for refund and remission of taxes to ensure that exporters get a level playing field," Nath told reporters before a review meeting to assess the export performance of the plantation sector.
The government had announced a Rs 1,400-crore (Rs 14-billion) package for exporters in July and exempted seven items from service tax.
He expressed the hope that the export target would be met, "just as targets were met