Topic– Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
4) Discuss how MEIS aims to incentivize exports from India, and increase the employment opportunities.(250 words)
Why this question
MEIS and SEIS are one of the key schemes under Foreign Trade Policy (2015-20) of India. Under MEIS various benefits are provided to merchandise exports from India. The issue is related to GS-3 syllabus under the following heading-
Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.
Key demand of the question.
The question wants us to write in detail about the MEIS, its salient features and how it will help in creating employment opportunities in India.
Discuss- This is an all-encompassing directive which directs us to write in detail about the key demand of the question.
Structure of the answer
Introduction- write a few lines about the FTP of India and mention MEIS along with SEIS and other export promotion schemes.
- Discuss the salient features/provisions of MEIS. e.g notified products to notified countries; brand specific rate vs industry based rate; 2-5 % of value of exports; freely transferable duty free scrips etc.
- Discuss how it will help in generating employment. E.g special provision for sending items less than 25000 Rs value through courier, which will help small businesses, role of e-commerce in the MEIS, more foreign exchange, benefit to manpower intensive industries etc.
Conclusion– Form a fair and a balanced conclusion on the overall issue.