RoDTEP: India s exporters benefit scheme suffers from low outlay, might run into implementation gaps
Synopsis
With interest rates at historical lows this is the right time to give a liquidity boost to Indian exporters.
While the Union Budget has been cheered by most Indian businesses, one community left ruing are the exporters. The primary reason for is the allocation of just Rs 13,000 crore towards the Remission of Duties & Taxes on Exported Products (RoDTEP) scheme. To put this number in perspective, RoDTEP is supposed to be the one-shot replacement of several input tax neutralization/export incentive schemes, just one of which - Merchandise Exports from
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Finance Minister Nirmala Sitharaman on Friday said transparency and tax stability were the key guiding principle of Budget 2021-22. Contrary to the expectations of a COVID-19 tax, the government has chosen to fund the budget stimulus through higher borrowing rather than increased taxes, she said while addressing members of industry chamber CII. While the Union Budget 2021-22 provides for enhanced capital expenditure by the government, it also envisages private sector participation in a big way, the finance ministry said in a statement quoting the minister. On the Budget announcement of setting up a Development Finance Institution (DFI), Sitharaman said the government will provide some capital and will also raise funds from the market.
Transparency, tax stability key guiding principles of Budget 2021-22: FM Sitharaman
While the Union Budget 2021-22 provides for enhanced capital expenditure by the government, it also envisages private sector participation in a big way, the finance ministry said in a statement quoting the minister. PTI February 05, 2021 / 08:08 PM IST
Finance Minister Nirmala Sitharaman on Friday said transparency and tax stability were the key guiding principle of Budget 2021-22. Contrary to the expectations of a COVID-19 tax, the government has chosen to fund the budget stimulus through higher borrowing rather than increased taxes, she said while addressing members of industry chamber CII.