India rolls out incentives for exports & housing |
In a bid to arrest the current economic slowdown, Finance Nirmala Sitharaman recently announced further relief measures with a focus on reviving the housing and export sector. At a press conference, Sitharaman announced several measures with respect to exports industry, including the raising of interest equalisation scheme for MSMEs and exporters to 5 per cent, replacing Scheme for Remission of Duties or Taxes on Export over MEIS for exports, higher insurance cover, implementation of fully electronic GST refund system besides 238 million dollars for export guarantee . The finance minister`s announcement that an additional 5 billion dollars to 9.5 billion dollars to be made available as export credit under the priority sector is indeed good news, according to experts. The government also plans to boost exports by leveraging technology. The announcement reconfirms government`s focus on reviving the economy by helping to increase exports.
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