Commerce Minister Piyush Goyal on Saturday said that the Centre's new measures on boosting the exports sector will benefit micro, small and medium enterprise (MSME) exporters with a new scheme for reimbursing taxes, reduced insurance cost and ease of doing business.
"Thank PM @narendramodi & FM @nsitharaman for today's announcements to boost exports. These will help make Indian exports competitive & especially benefit MSME exporters with a new scheme for reimbursing taxes, reduced insurance cost & ease of doing business," he said in a tweet.
Earlier in the day, Sitharaman announced the government's third set of measures to revive the economy with a renewed focus on exports and realty sector, in a bid to arrest the current slowdown.
She introduced a new scheme for Remission of Duties or Taxes on Export Products (RoDTEP) to replace the current Merchandise Exports from India Scheme (MEIS) from next year. However, the existing dispensation in textiles of MEIS and old Rebate on State Levies (RoSL) will continue up to December 31.
Sitharaman said that an additional Rs 36,000 crores to 68,000 crores will be released for the MSMEs to ensure higher credit availability for exports.
At the same time, the Finance Minister underlined the government is working to reduce 'time to export' by leveraging technology further.
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