Government has said that it will release 56 thousand 27 crore rupees in the current Financial Year itself in order to disburse all pending export incentives due to exporters. Commerce Minister Piyush Goyal said, the amount will be disbursed to more than 45 thousand exporters and the amount will be disbursed this year only. Mr Goyal said, the benefits will help sectors to maintain cash flows and meet export demand in international market.
The amount is over and above duty remission of 12 thousand 454 crore rupees for the Remission of Duties and Taxes on Export Products (RoDTEP) Scheme and 6 thousand 946 crore rupees for Rebate of State and Central Levies and Taxes (RoSCTL) Scheme already announced. Exports in India have seen robust growth in recent months.