Business Standard

Fears of weaker rupee, higher inflation worsen

The Finance Ministry increased the validity of electronic duty credit scrips under various schemes to 24 months, giving more flexibility to exporters

Image
Premium

TNC Rajagopalan
Earlier this month, the government unveiled its National Logistics Policy aiming to reduce the logistics costs by 5-6 per cent from an estimated 13-14 per cent of GDP. It also took some measures of interest to the exporters and importers. Yet, all these initiatives were overshadowed by worrying developments abroad.  
 
The Commerce Ministry allowed invoicing, receipts, and payments in rupees through Special Vostro Accounts (SVA) for trade transactions in sync with the instructions of Reserve Bank of India (RBI) on July 11, but refrained from saying whether exporters will receive incentives such as duty drawback against receipt of payments
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 25 2022 | 10:46 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com