Document Fragment View

Matching Fragments

"(d) To stimulate India's exports by facilitating access to required raw materials, intermediates, components, consumable and capital goods from the inter-national market.
(f) To impart greater transparency in the export-import policies and eliminate or minimise quantitative restrictions, licensing and other discretionary controls.
(i) To simplify and streamline the procedures governing exports and imports,"

31. Learned counsel further stated that today, according to the new policy, against the export, an exporter is entitled to import a particular percentage of the export in value irrespective of actual import or use of any item. Learned counsel for the petitioner submitted that keeping in mind this policy, the Court has to consider the matter. As for the policy of 92-97, earlier the Department was clear in mind that it is with reference to advance licence. Even the Department, on behalf of the Union of India, stated that it was pertaining to advance licence. However, when the pass book was introduced, provisions pertaining to Advance Licence could not be applied in the same manner.