New Fiscal Reforms

On 14th September and on 20th September 2019 Union Finance Minister announced separate measures to boost the flailing economy.

Measures announced by the government to boost various sectors are as follows:

Exports

  • Scheme for Remission of Duties or Taxes on Export Products: The scheme includes a refund of duties and taxes on exports that will replace all existing schemes including the Merchandise Export of India Scheme (MEIS). It will be effective from January 1, 2020 and will benefit all products including textiles. The revenue forgone is projected at upto Rs 50,000 crore.
  • Electronic Fund Mechanism: To make the refunds speedily, a ....
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