Diversify exports

Apropos ‘ls our export growth broadbased? (December 27), Indian merchandise exports need a boost with cost competency since it has to face competition from low cost exports from Bangladesh and Vietnam. Services exports are the bright spot thanks to export of IT services. A diversified export basket comprising electronic goods, ceramic, glassware, meat,dairy products, tobacco, coffee and iron ore is crucial for the export story.

NR Nagarajan

Sivakasi

Settlement issues

With reference to the Editorial ‘Unsettling the markets’ (December 27), the move of the market regulator to bring down the settlement from T+1 cycle to instant cash or crediting of shares to de-mat accounts, would definitely boost retail investor sentiment, though there may be some issues for institutional investors and clearing corporations.

In the present market scenario, with number of IPOs hitting the market, retail investors are now becoming active traders, eyeing post-listing gains.

With readily available funds for retail investors, trading volumes are bound to increase .

Sitaram Popuri

Bengaluru

Rupee trade boost

Apropos the news “₹ payment effect: Engg exports to Russia rise 140% to $1 billion” (December 27), the rupee payment system post the Ukraine war is an excellent opportunity to promote exports to Russia. The alacrity with which the engineering goods exporters have grabbed the opportunity is appreciable.

This rise in exports needs to be sustained by streamlining and maintaining quality and pricing standards.

Exporters of pharmaceutical products, organic and inorganic chemicals, plastics, medical apparatus, food items, furniture, pearls and precious stones, apparel’s, etc also should emulate the engineering goods’ success.

The government should form a separate cell to identify and facilitate export of goods required by Russia, under the new ₹payment system.

Kosaraju Chandramouli

Hyderabad

TDS, TCS mismatch

The I-T Department’s advisory on TDS and TCS mismatch in ITRs is very sound and timely when the last instalment of advance tax is due in March 2024. There may be such issues with senior citizens due to joint ownership of financial instruments or properties, joint rental incomes and intentional filing of Form 15H to avoid TDS on interest or other incomes subject to Tax deduction at source.

Since the volume of ITRs is running into crores , the better administration and monitoring can be conducted through pre-filled ITRs in respect of incomes subject to TDS and TCS. Though, the portals of AIS are already there on ITR filing website, to guide the tax payers yet pre-filled ITRs should be preferred.

Vinod Johri

New Delhi

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