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Nirmala Sitharaman: Rs 60,000 crores boost to exports, housing

Sitharaman also announced a reduced turnaround time for exports by leveraging technology and benchmarking it to Boston and Shanghai ports

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Nirmala Sitharaman speaks during a press conference as MoS Finance Anurag Thakur looks on. Pic/PTI

Nirmala Sitharaman speaks during a press conference as MoS Finance Anurag Thakur looks on. Pic/PTI

With GDP growth sliding to six-year low of 5 per cent in April-June quarter and several sectors facing low demand, Finance Minister Nirmala Sitharaman on Saturday announced a fresh set of measures to boost exports and the housing sector.

The key measures include extending the scheme of Reimbursement of taxes and Duties for export promotion, fully automated electronic refund for Input Tax Credits (ITC) in GST, revised priority sector lending norms for exports and expanding the scope of Export Credit Insurance Scheme (ECIS). An inter-ministerial working group has also been formed to monitor export finance.

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