Government unveils measures to boost Economic Growth; Finance Minister announces a Rs 10,000 crore special window to provide last mile funding for housing projects in affordable and middle income category; also announces new scheme for Remission of Duties or Taxes on Export Product to incentivise exporters.<\/p>\n\n\n\n
In a major push to the housing and exports sectors Finance Minister Nirmala Sitharama has annonced a slew of measures. The new package of measures for exports would address tax and duties refunds for exporters and improve credit flow to the export sector. In a Major relief to the Housing Sector Government has annouced a fund of Rs 10,000 crore for completion of stalled housing projects which are not affected by NPAs or NCLT Issues.<\/p>\n\n\n\n
Finance Minister Nirmala Sitharaman on Saturday announced a fresh set of measures to boost housing and export sectors. <\/p>\n\n\n\n
For home buyers, government has annouced a fund of Rs 10,000 crore for completion of stalled housing projects<\/p>\n\n\n\n
These Should be non-NPA and non-NCLT projects in affordable and middle income category <\/p>\n\n\n\n
However, the fund will not cover the projects affected by NPA and NCLT issues<\/p>\n\n\n\n
Rs 10,000 crore will allocated by the government, and an equal amount will be invested by other investors<\/p>\n\n\n\n
To encourage government servants to buy new houses, the interest rates on House Building Advance will be lowered and linked with 10-year G-sec yields. <\/p>\n\n\n\n
Finance Minister Nirmala Sitharaman also announced a slew of measures to revive business sentiments among country’s exporting fraternity.<\/p>\n\n\n\n
New scheme called Remission of Duties or Taxes on Export Products will replace the existing all Merchandise Exports from India Scheme i.e. MEIS<\/p>\n\n\n\n
Under Interest Equalization Scheme incentive has been increased to 5% for MSME exporters with effect from November 2, 2018 Fully automated electronic refund route will be in place for input tax credits in GST<\/p>\n\n\n\n
Export Credit Guarantee Corporation will offer higher insurance cover to banks lending working capital for exports<\/p>\n\n\n\n
An action plan to reduce time to export turn-around time in airports and ports benchmarked to international standards will be implemented by December 2019<\/p>\n\n\n\n
In a bid to help the exports, the government has also revised priority sector lending norms for export credit<\/p>\n\n\n\n
Annual mega shopping festivals in India will be organised in four places in march 2020 in four themes in India which will provide big market to the exporters<\/p>\n","protected":false},"excerpt":{"rendered":"
Government unveils measures to boost Economic Growth; Finance Minister announces a Rs 10,000 crore special window to provide last mile funding for housing projects in affordable and middle income category; also announces new scheme for Remission of Duties or Taxes on Export Product to incentivise exporters. In a major push to the housing and exports […]<\/p>\n","protected":false},"author":1,"featured_media":70413,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410,312],"tags":[],"class_list":["post-70412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-india"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/70412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=70412"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/70412\/revisions"}],"predecessor-version":[{"id":70414,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/70412\/revisions\/70414"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/70413"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=70412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=70412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=70412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}