Govt includes steel, pharma, chemicals in RoDTEP scheme as exports falter

Expanded list of items will be applicable for exports made from December 15. Scheme outlay pegged at Rs 1,000 crore, says govt official

Amid faltering exports, the department of commerce on Wednesday expanded the scope of the export boosting scheme, Remission of Duties and Taxes on Exported Products (RoDTEP), to include iron & steel, chemicals and pharmaceuticals.

The expanded list of items will be applicable for exports made from December 15. The outlay for the scheme is estimated to be Rs 1,000 crore, a government official said, without specifying whether or not the outgo will be for the current financial year.

RoDTEP will refund the embedded non-creditable central, state and local levies paid on inputs to exporters. These taxes were not being refunded