• Contact us
  • Advertising Policy
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms of Use
Sunday, June 8, 2025
25 °c
Agartala
enewstime
  • Home
  • News
    • Northeast
    • National
    • International
    • Tripura News
  • Sports
    UTT Season 6: Rising star Yashaswini topples China’s Fan Siqi as U Mumba beat Chennai Lions

    UTT Season 6: Rising star Yashaswini topples China’s Fan Siqi as U Mumba beat Chennai Lions

    VPTL 2025: Md. Faiz’s knock guides Pagariya Strikers to second win

    VPTL 2025: Md. Faiz’s knock guides Pagariya Strikers to second win

    Chinnaswamy stampede case: K’taka govt increases compensation amount to Rs 25 lakh

    Chinnaswamy stampede case: K’taka govt increases compensation amount to Rs 25 lakh

    FIH Pro League: Harman slots opener but India slump to 1-2 loss against Netherlands

    FIH Pro League: Harman slots opener but India slump to 1-2 loss against Netherlands

    As kids, we understood Lord’s history and how well Australia embraces it, says Hayden

    As kids, we understood Lord’s history and how well Australia embraces it, says Hayden

    VPTL 2025: Meshram’s stellar knock helps NECO Master Blaster beat Nagpur Titans by 9 wkts

    VPTL 2025: Meshram’s stellar knock helps NECO Master Blaster beat Nagpur Titans by 9 wkts

    India not looking to rest on past laurels against Hong Kong, says Sandesh Jhingan

    India not looking to rest on past laurels against Hong Kong, says Sandesh Jhingan

    Let Lamine Yamal grow without pressure for the sake of football, says Cristiano

    Let Lamine Yamal grow without pressure for the sake of football, says Cristiano

    UTT Juniors: U Mumba TT set to take on Kolkata ThunderBlades in final

    UTT Juniors: U Mumba TT set to take on Kolkata ThunderBlades in final

  • Business
  • Entertainment
  • Health
  • Features
  • TendersNew
No Result
View All Result
  • Home
  • News
    • Northeast
    • National
    • International
    • Tripura News
  • Sports
    UTT Season 6: Rising star Yashaswini topples China’s Fan Siqi as U Mumba beat Chennai Lions

    UTT Season 6: Rising star Yashaswini topples China’s Fan Siqi as U Mumba beat Chennai Lions

    VPTL 2025: Md. Faiz’s knock guides Pagariya Strikers to second win

    VPTL 2025: Md. Faiz’s knock guides Pagariya Strikers to second win

    Chinnaswamy stampede case: K’taka govt increases compensation amount to Rs 25 lakh

    Chinnaswamy stampede case: K’taka govt increases compensation amount to Rs 25 lakh

    FIH Pro League: Harman slots opener but India slump to 1-2 loss against Netherlands

    FIH Pro League: Harman slots opener but India slump to 1-2 loss against Netherlands

    As kids, we understood Lord’s history and how well Australia embraces it, says Hayden

    As kids, we understood Lord’s history and how well Australia embraces it, says Hayden

    VPTL 2025: Meshram’s stellar knock helps NECO Master Blaster beat Nagpur Titans by 9 wkts

    VPTL 2025: Meshram’s stellar knock helps NECO Master Blaster beat Nagpur Titans by 9 wkts

    India not looking to rest on past laurels against Hong Kong, says Sandesh Jhingan

    India not looking to rest on past laurels against Hong Kong, says Sandesh Jhingan

    Let Lamine Yamal grow without pressure for the sake of football, says Cristiano

    Let Lamine Yamal grow without pressure for the sake of football, says Cristiano

    UTT Juniors: U Mumba TT set to take on Kolkata ThunderBlades in final

    UTT Juniors: U Mumba TT set to take on Kolkata ThunderBlades in final

  • Business
  • Entertainment
  • Health
  • Features
  • TendersNew
No Result
View All Result
enewstime
  • Home
  • News
  • Sports
  • Business
  • Entertainment
  • Health
  • Features
  • Tenders
Home Main

FM administers booster shot to push exports, housing

ENEWSTIME Desk by ENEWSTIME Desk
September 14, 2019
in Main
Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman addressing a press conference, in New Delhi on September 14, 2019. The Minister of State for Finance and Corporate Affairs, Anurag Singh Thakur, the Secretary, Department of Economic Affairs, Atanu Chakraborty and the Secretary Department of Expenditure, G.C. Murmu, the Revenue Secretary, Dr. Ajay Bhushan Pandey and the Principal Director General (M and C), Press Information Bureau, Sitanshu R. Kar are also seen.

Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman addressing a press conference, in New Delhi on September 14, 2019. The Minister of State for Finance and Corporate Affairs, Anurag Singh Thakur, the Secretary, Department of Economic Affairs, Atanu Chakraborty and the Secretary Department of Expenditure, G.C. Murmu, the Revenue Secretary, Dr. Ajay Bhushan Pandey and the Principal Director General (M and C), Press Information Bureau, Sitanshu R. Kar are also seen.

30
VIEWS
Share on FacebookShare on Twitter

New Delhi, September 14, 2019:  With GDP growth sliding to a six-year low of 5 percent in the April-June quarter along with several sectors facing a slowdown, Finance Minister Nirmala Sitharaman on Saturday announced a fresh set of measures worth around Rs 60,000 crore to boost exports and the housing sector.

ADVERTISEMENT

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. Accordingly, the scheme for Remission of Duties or Taxes on Export Product (RoDTEP) was announced which will replace Merchandise Exports from India Scheme (MEIS) for textiles.

In effect, RoDTEP will more than adequately incentivize exporters than existing schemes put together. The revenue foregone on this account is projected at up to Rs 50,000 crore. However, the existing dispensation in textiles of MEIS plus old ROSL scheme will continue up to December 12, 2019.

Textile and all other sectors which currently enjoy incentives up to 2 percent over MEIS will transit into RoDTEP from January 1, 2020. Sitharaman also announced that the Export Credit Guarantee Corporation (ECGC) will expand the scope of export credit insurance service (ECIS).

ADVERTISEMENT

Effectively, this will offer higher insurance cover to banks lending working capital for exports. Further, Sitharaman revealed that Priority Sector Lending (PSL) norms for export credit have been examined and that the enabling guidelines are under consideration of the RBI.

The new norms, if implemented, are expected to release an additional Rs 36,000 crore to Rs 68,000 crore as export credit under the priority sector. Sitharaman announced to reduce turnaround time for exports by leveraging technology and benchmarking it to Boston and Shanghai ports.

Furthermore, the government will provide Rs 1,700 crore for export guarantees and to cut credit cost for the exporters. Other measures like the creation of Special dispensation for facilitating and on-boarding ‘handicrafts artisans and handicraft cooperatives’ directly on e-commerce portals for exports were also announced.

In addition, Sitharaman said that India will organize annual mega shopping festivals at four locations with four themes across the country in March, 2020. The minister came out with several measures to prop up the country’s housing sector which is considered as one of the main job creators.

Now there would be relaxed ECB norms for the housing sector. Further, interest on house building advance would be lowered by linking it with 10-year government securities. Sitharaman said that there would be special window for affordable and middle-income housing.

Under this, a special window to provide last-mile funding for housing projects which are non-NCLT, non-NPA cases to complete unfinished projects. For this, a fund of Rs 10,000 crore would be contributed by the government and “roughly the same size by outside investors.”

The fresh set of measures to boost the economy has come in the wake of sinking business sentiment across the industry. With most engines of growth stuttering, the Reserve Bank of India recently lowered its GDP forecast and pegged it at 6.9 percent in 2019-20.

Several rating agencies and research firms expect the growth to be in the range of 6.5-7 percent. Besides domestic consumption slowdown, the external factors remain adverse threatening to pull down the economy. A lingering US-China trade war and fears of a global recession could make things worse. (IANS)

Tags: Finance Minister Nirmala SitharamanHome Banner

Related Posts

Eid-al-Adha-India-Bangladesh-Border-Trade
Main

Eid-al-Adha: India-Bangladesh Border Trade to remain suspended

June 5, 2025
Dreaded-Maoist-leader-Basavaraju-among-27-killed-in-Chhattisgarh-encounter
Main

Dreaded Maoist leader Basavaraju among 27 killed in Chhattisgarh encounter (Lead)

May 22, 2025
Indo-Pak Tension: How Tripura and NE States Are Supporting Students
Main

Indo-Pak Tension: How Tripura and NE States Are Supporting Students

May 10, 2025
POs-of-Bihar-State-Administrative-Services-visit-Jampui-Hill-under-North-Tripura
Main

POs of Bihar State administrative service tour Jampui Hill during exposure visit

May 8, 2025
Biodiversity-and-Sustainable-Development-Potential-of-Northeast-India
Main

Manipur Guv Highlights Biodiversity and Sustainable Development Potential of Northeast India

April 26, 2025
Tripura-CM-directs-SPs-and-DMs-to-remain-vigilant-about-Pakistani-nationals
Main

Tripura CM directs SPs and DMs to remain vigilant about Pakistani nationals

April 25, 2025
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
D-2050 D-2050 D-2050
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

About us

Enewstime.in is run by an individual – a Journalist by profession of Tripura with the active help of several journos including senior journalists of the State. On top of that, Enewstime.in being a subscriber of IANS news agency, we have plenty of multi-choice topics to offer to our esteemed readers. Enewstime.in is a venture reach global audience from a tiny State Tripura.

Latest News

Akali Dal MP protests over UAE's directive on carrying sharp objects by Sikhs

UTT Season 6: Rising star Yashaswini topples China’s Fan Siqi as U Mumba beat Chennai Lions

Madhuri Dixit, Allu Arjun, Kamal Haasan & others wish everyone Eid Mubarak

Lending rates likely to fall by 30 bps after policy rate cut: SBI

Woman killed in SUV-two wheeler collision in Tamil Nadu

Another shocker from Pakistan: Sharif govt gives 500 per cent salary hike to NA Speaker, Senate Chairman

Contact us

ssss

  • Contact us
  • Advertising Policy
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms of Use

© 2025 Designed & Developed with ❤️ by Provibe Media LLP

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • Northeast
    • National
    • International
    • Tripura News
  • Sports
  • Business
  • Entertainment
  • Health
  • Features
  • Tenders

© 2025 Designed & Developed with ❤️ by Provibe Media LLP