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{"id":1869,"date":"2020-06-24T12:51:00","date_gmt":"2020-06-24T07:21:00","guid":{"rendered":"http:\/\/newsripples.com\/?p=1869"},"modified":"2020-07-22T17:50:16","modified_gmt":"2020-07-22T12:20:16","slug":"atmanirbhar-bharat-rodtep-scheme-can-be-a-game-changer-in-boosting-exports","status":"publish","type":"post","link":"https:\/\/www.newsripples.com\/atmanirbhar-bharat-rodtep-scheme-can-be-a-game-changer-in-boosting-exports\/","title":{"rendered":"Atmanirbhar Bharat – RoDTEP Scheme can be a Game Changer in Boosting Exports"},"content":{"rendered":"\n

INR 50,000 Cr. budget provision was kept for RoDTEP by Finance Minister.<\/strong><\/p>\n\n\n\n

RoDTEP Scheme (Remission of Duties or Taxes on Export Products) announced on 14th<\/sup> Sep\u201919 by the Finance Minister is a progressive towards boosting exports and employment generation in various sectors in the country. It will replace the existing Merchandise Exports from India Scheme (MEIS). INR 50,000 Cr. budget provision was kept for RoDTEP by Finance Minister.<\/p>\n\n\n\n

On 13th March, 2020, the Cabinet approved RoDTEP’s scheme. RoDTEP scheme is a WTO compliant, that will reimburse taxes\/duties\/levies at the central, state and local level, which are currently not being refunded. The sequence of introduction of the Scheme across sectors, prioritization of the sectors to be covered, degree of benefit to be given on various items within the rates set by the Committee will be decided and notified by the Department of Commerce.<\/p>\n\n\n\n

However, the implementation of RoDTEP has not moved much since then. The industry is in dire need of some support to relieve it from the burden of high taxes and duties. For Example:<\/p>\n\n\n\n

The Indian Aluminium industry is struggling to retain global competitiveness<\/strong><\/p>\n\n\n\n