Nirmala Sitharaman Announces Measures To Promote Exports

The government announced an extension in the scheme of reimbursement of taxes and duties with a view to promoting exports. The measures included simplification of the Goods and Services Tax (GST) regime for exporters and higher insurance cover to banks lending for exports. The measures come days after the government said it intends to more than triple the country's annual exports to $1 trillion in the next five years. While announcing the measures, Finance Minister Nirmala Sitharaman said the action was in continuation of the steps announced on August 23 and August 30.

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