The authorities on Thursday stated it’s releasing Rs 56,027 crore in opposition to pending tax refunds of exporters beneath totally different export creative schemes. The quantity could be disbursed to greater than 45,000 exporters, the commerce ministry stated. It stated that Rs 56,027 crore is being launched beneath numerous export promotion schemes.
The quantity might be disbursed this yr solely, Union Commerce Minister Piyush Goyal informed reporters right here. This quantity is over and above responsibility remission of Rs 12,454 crore for the Remission of Duties and Taxes on Export Products (RoDTEP) Scheme and Rs 6,946 crore for Rebate of State and Central Levies and Taxes (RoSCTL) Scheme already introduced.
Benefits would assist sectors to take care of money flows and meet export demand in worldwide market, he stated.