Reply: Government grants tax exemptions to various individuals and entities based on various criteria like charitable purposes, infrastructure development, etc
Reply: Government grants tax exemptions to various individuals and entities based on various criteria like charitable purposes, infrastructure development, etc.
36. Are the schemes for export promotion, which imply a subsidy, notified to the WTO? (Page 11, paragraph 22)
Reply: India has notified the programme relating to preferential tax policies relating to setting up of special economic zones (SEZs) and the SEZ units in the notification G/SCM/N/186/IND dated 18 October 2010. Many of the export promotion schemes are not in the nature of subsidies as per the provisions of ASCM. India is making efforts to gather information in respect of subsidies that require to be notified.
37. Could India indicate whether the market operations conducted by the Reserve Bank of India are for private banking? Is the Reserve Bank of India considered a commercial bank? (Page 12, paragraph 27)
Reply: RBI's market operations do not target any specific segment in banking. They are aimed at modulating liquidity in the banking system as per the policy needs. RBI is not considered a commercial bank viewed from the perspective of market operations.
38. According to the Report of the Secretariat, "India believes that trade policy is an instrument for achieving its overall objectives of economic policy such as, industrialization, development and self sufficiency." In this regard we would like to know If India has broader trade policy, which allows to deepen its relationship with different partners in Asian. (Page 23, paragraph 2)
Reply: India's "Look East Policy" is a conscious initiative for closer engagement with South East and East Asian countries. The Look East Policy does not confine itself to improving commercial ties but seeks to foster deeper political, economic and strategic cooperation.
39. What is the coverage of the Economic Partnership Agreement being negotiated with Canada? Are you looking to negotiate labour and environmental provisions? (Page 28, paragraph 84)
