Trade package on January 28

Commerce Minister Arun Jaitley will unveil a set of measures on January 28 to simplify the export-import regime. These include an e-governance initiative for exporters.

While commerce ministry officials said the measures would not lead to any amendments to the Exim Policy for 2002-07, the Directorate-General of Foreign Trade (DGFT) is busy preparing the contours of the announcements.

Officials, however, refused to divulge the details, to be announced a day before Parliament reconvenes.

The urgency to announce the measures stems from the fact that a full-fledged policy may not be possible given the government's plans to dissolve the Lok Sabha next month after the vote-on-account on February 3.

The move comes in the wake of a number of procedural reforms announced by Finance Minister Jaswant Singh this month.

The finance minister has eased customs duties and relaxed excise duties on a wide range of goods besides allowing self certification by exporters on their consignments.

Once the President dissolves the Lok Sabha, the National Democratic Alliance (NDA) government would not be allowed to make any policy announcements by the Election Commission, including amendments to the Exim Policy, traditionally made on March 31 every year and come into effect from the next day.

It is for the first time since the government started with the annual Exim Policy announcements that a caretaker government would be in place.

In 1997, the government under HD Deve Gowda collapsed on March 31, the day of the policy announcement.

The then Commerce Minister, BB Ramaiah, had, however, announced the policy by the time the Congress withdrew support to the United Front government.

Officials said the Foreign Trade Act did not lay down any specific date for the annual announcements. The minister is also not required to make a formal announcement and the amendments can be made through a series of notifications, circulars and public notices by the DGFT and the revenue department.