NEW MEASURES TO BOOST EXPORTS AND HOUSING SECTOR

Measures to boost exports: 

• The government will provide a 10,000 crore rupees special window with an aim to help complete ongoing affordable and middle-income housing projects.
  
  
• The housing projects considered for the special window have been limited to non-NPA (Non-Performing Assets) and non-NCLT (National Company Law Tribunal) projects.
  
  

Measures to boost housing sector:

• The other key incentives include extending the scheme of reimbursement of taxes and duties for export promotion, fully automated electronic refund for Input Tax Credits (ITC) in GST.
  
  
• An inter-ministerial group will be set up under the department of commerce to monitor export finance credit on a weekly basis.
  
  
• The scheme for Remission of Duties or Taxes on Export Product (RoDTEP) will replace Merchandise Exports from India Scheme (MEIS) for textiles. Textile and all other sectors which currently enjoy incentives up to 2 % over MEIS will transit into RoDTEP from January 1, 2020.
  
  
• The Export Credit Guarantee Corporation (ECGC) will expand the scope of export credit insurance service (ECIS) and will offer higher insurance cover to banks lending working capital for exports.
  
  
• India will now have its own version of an annual shopping festival on the lines of the one hosted by Dubai. This annual shopping festival, likely to begin from March 2020, will be held in four Indian cities and the focus areas would include gems and jewellery, textiles and leather.
  
  
• A provision for higher insurance cover on exports by MSMEs was also announced.
  
  
• The government will also set up an FTA Utilisation Mission headed by a senior officer in the Department of Commerce to maximise benefits available under Free Trade Agreements (FTAs).
  
  
• Priority sector tag for export credit was also announced.