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The Government of India (GoI) released ​excise duty refund of Nu 2.916B for 2015 yesterday. The GoI also released a fund of Nu 513.885M for two Project Tied Assistance (PTA)​ projects and another Nu 425M for the fourth quarter of the programme grant.

Of the Nu 2.916B refund, Nu 2.​208B​ pertains to the imports made straight from manufacturers, and Nu 707.9M​ for the imports made from open market.

The refund constitutes about 10 percent of the total revenue for the financial year 2016-2017.

GoI has committed Nu 45B in the 11th Plan, of which​ Nu 28B is for PTA, Nu 8.​5B for programme grant, and another Nu 8.​5B for small development projects (SDP).

To date, GoI ​has released Nu 17.​54B for PTA projects, Nu 6.​8B for programme​ grant, and ​Nu 7.​15B for SDP.​

In total, GoI has released Nu 31.​49B, which is 70 percent of total committed for the 11th Plan.​ This is excluding Nu 5B economic stimulus package.

Staff reporter

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