Commerce dept seeks to extend 2 export schemes ahead of Union Budget

The commerce department is now seeking an additional allocation of Rs 1,600-1,700 crore, which will allow the government to drag the scheme till March 31

Ahead of the Union Budget, the commerce department is talking to the finance ministry on continuing two major export-boosting schemes — Remission of Duties and Taxes on Exported Products (Rodtep) for export-oriented units and special economic zones (SEZs), and the Interest Equalisation Scheme (IES). 

Both expired on December 31. 

In the case of Rodtep for SEZs, export-oriented units (EoUs), and Advance Authorisation (AA), the scheme has been extended till January 29 after an intervention from the Prime Minister’s Office (PMO) last week. On the other hand, the IES has not been renewed although the commerce department is seeking