DEPB scheme to end on October 1

In a move towards tightening fiscal policies, the government on Friday announced putting an end to the Duty Entitlement Passbook Book Scheme (DEPB), effective October 1. The revenue forgone to exporters last year on account of DEPB was to the tune of Rs 8,700 crore. Exporters who will be affected are from the engineering sector, including auto and auto component industry, chemicals, pharma, textile and the marine sectors. 

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