With exporters grappling with tepid external demand and other disruption to trade, the Department of Commerce is pushing for an extension of two export-boosting schemes Remission of Duties and Taxes on Exported Products (Rodtep) and Interest Equalisation Scheme (IES) — beyond their expiry date.
While the IES is valid till August 31, the Rodtep scheme will end after September 30. A meeting between officials of the Department of Commerce and the Ministry of Finance regarding the schemes is expected to take place soon, a person aware of the matter said. While ₹16,575 crore for FY25 has been allocated to the Rodtep scheme under the Union Budget, according to the department's estimate an additional amount may be required.
This story is from the August 19, 2024 edition of Business Standard.
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This story is from the August 19, 2024 edition of Business Standard.
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