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Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified



Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified 


            In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Central Board of Excise & Customs No.97/2015-CUSTOMS (N.T.), dated 1st October, 2015, except as respects things done or omitted to be done before such supersession, the Central Board of Excise & Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and  Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect from 16th October, 2015, be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.


SCHEDULE-I

Sl.No.
Foreign Currency
Rate of exchange of one unit of foreign currency equivalent to Indian rupees
(1)    
(2)
(3)


               (a)
                (b)


(For Imported Goods)
  (For Export Goods)
1.
Australian Dollar
48.35
46.95
2.
Bahrain Dinar
177.15
166.85
3.
Canadian Dollar
50.75
49.65
4.
Danish Kroner
10.10
9.85
5.
EURO
75.30
73.45
6.
Hong Kong Dollar
8.45
8.30
7.
Kuwait Dinar
221.60
208.55
8.
New Zealand Dollar
44.90
43.55
9.
Norwegian Kroner
8.15
7.90
10.
Pound Sterling
101.40
99.20
11.
Singapore Dollar
47.70
46.60
12.
South African Rand
5.05
4.75
13.
Saudi Arabian Riyal
17.80
16.80
14.
Swedish Kroner
8.10
7.90
15.
Swiss Franc
69.15
67.50
16.
UAE Dirham
18.15
17.15
17.
US Dollar
65.35
64.30


SCHEDULE-II

Sl.No.
Foreign Currency
Rate of exchange of 100 units of foreign currency equivalent to Indian rupees
(1)    
(2)
(3)


(a)
(b)


(For Imported Goods)
  (For Export Goods)
1.
Japanese Yen
55.10
53.85
2.
Kenya Shilling
64.65
61.00



*********
Search-cum-Selection Committee (SC) constituted under the Chairmanship of Shri Shaktikanta Das, Secretary, Department of Economic Affairs for selecting a CEO for the Investment Management Company, under the National Investment and Infrastructure Fund (NIIF) 
                        A Search-cum- Selection Committee (SC) has been constituted under the Chairmanship of Shri Shaktikanta Das, Secretary, Department of Economic Affairs, Ministry of Finance, for selecting a CEO for the Investment Management Company, under the National Investment and Infrastructure Fund (NIIF).

Other Members of the Search cum Selection Committee are:
( i)               Ms Anjuly Chib Duggal,Secretary, DFS  --         Member
( ii)             Ms Arundhati Bhattacharya                     _          Member
( iii)                       Dr Rathin Roy                                          _          Member
( iv)                       Dr Rajiv Kumar                                        _          Member

                 The Investment Management Company would actually be responsible for taking investment decision of NIIF corpus.  The Government’s share in the corpus shall not exceed 49%. The shareholding of the company would reflect the shares of the different investors in the corpus.  The salaries of the Investment Team would be market linked.  The salary of the Chief Executive Officer (CEO) of the Company would be market linked and he would be expected to achieve ambitious performance goals with rigorous management output.

            Earlier with a view to maximizing economic impact mainly through infrastructure development in commercially viable projects, both greenfield and brownfield, including stalled projects, the Government has approved the creation of National Investment and Infrastructure Fund (NIIF) which aims to attract investment from both domestic and international sources.

            The NIIF will be established as a Trust/other legal entity from the point of view of taxation and flexibility. There will be a Governing Council of the NIIF which will have Government representatives and experts in international finance, eminent economists and infrastructure professionals. It could include representatives from other non-Government shareholders. The terms and period of appointment of the Governing Council of the NIIF will be as decided by the Government.  The Governing Council will oversee the activities of the Trust and will be constituted as a separate legal entity, if necessary.



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