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Exporters may not get much help from RoDTEP

The government has restricted the allocation for MEIS benefits to Rs 5,000 crore for September-December period. In FY20, the Centre granted Rs 43,500 crore of MEIS benefits

TNC Rajagopalan

Severe financial crisis has forced the government to prune the benefits under the Merchandise Exports from India Scheme (MEIS) for exports made during September-December this year. The move will hurt the large exporters and exporters extending longer credit to the buyers abroad. The commerce ministry has retained the rates of entitlement under MEIS but capped the benefits to Rs 2 crore for each exporter for exports made during the period. This means the exporters earning MEIS duty credits at 2 per cent will get no benefits for exports beyond Rs 100 crore made during this period. ...