Nirmala Sitharaman said that Government will extend incentives to boost exports
In order to boost exports from India, Hon Minister Nirmala Sitharaman has said that government will extend incentives to boost exports. May fall had been arrested and but picking of exports was slow so it is time to boost exports from India via extending the incentives to overseas shipments.
When asked about customs duty on Sugar:
She said that customs duty of 20% has been imposed on Sugar Exports inorder to improve domestic supply which is clocking at Rs 40 per kg. So far India has exported about 1.6 Miilion tonnes of sugar in 2015-16
When asked about Minimum Import Price (MIP) for steel:
She said that ministry would talk about it as in when the concern comes up. but experts say MIP for steel will stay the same until the early august and experts also suggest to use WTO compliant “Anti Dumping Duty” rather than MIP.