New Delhi: Minister of Commerce and Industry Piyush Goyal on Thursday (September 9) said that the Central government will clear Rs 56,000 cr pending dues to exporters under different export schemes.
In a press conference, Goyal noted that there was a concern about large amounts due to exporters under various schemes. However, the government has now approved to release all pending overdue of various govt schemes for exporters, the textile industry etc. In total, Rs 56,000 cr will be disbursed in the ongoing year. Also Read: Sensex, Nifty end marginally higher after range-bound trade
There was a concern about large amounts due to exporters under various schemes. The govt has approved to release all pending overdue of various govt schemes for exporters, the textile industry etc. & Rs 56,000 cr to be disbursed in the current year: Union Minister Piyush Goyal pic.twitter.com/fVkORaYFlP
— ANI (@ANI) September 9, 2021
The amount of Rs 56,027 crore of arrears is for different export promotion and remission schemes. Here’s a complete breakdown:
– Rs 33,010 crore under the Merchandise Exports from India Scheme (MEIS)
– Rs 10,002 crore under Service Export from India Scheme (SEIS)
– Rs 330 crore under Rebate of State Levies (RoSL)
– Rs 2,568 crore in Refund of Duties and Taxes on Exported Products (RoDTEP )
– Rs 4,831 crore under other legacy Schemes such as Target Plus, among others.
The minister said that more than 45,000 exporters will benefit from the decision of clearance of dues. “Benefits would be disbursed to more than 45,000 exporters, out of which about 98% are small exporters in the MSME category. Export claims relating to earlier years will need to be filed by the exporters by 31st December 2021 beyond which they will become time-barred,” he said. Also Read: Benelli unveils Tornado 252R sports bike: Check price, features, specs