Govt may save Rs 9,000 crore in claims under export promotion schemes

In April, exports grew 24.2 per cent year-on-year to their third-highest level of $38.2 billion, on the back of higher commodity prices

The commerce ministry may save around Rs 9,000 crore out of the Rs 56,000 crore allocated to settle pending claims for merchandise as well as service exports under various export promotion schemes.

“Our cumulative requirement will not be Rs 56,000 crore, which has been sanctioned. We may not require Rs 8,000-9,000 crore. We were more generous and liberal in our initial estimate.

In many old cases, exporters may not have claimed incentives that we earlier included. Many exporters who applied may also not be eligible,” said a senior government official. While the allocation was made in FY22, so far around Rs 33,000