Anmol Nagpal
Subsidy schemes extendend for apparel, sugar
The union cabinet approved the extension of three schemes towards incentivising exports of apparel, providing sugar subsidy, and energizing investments in animal husbandry activities.
Source: Unsplash
It also approved the signing and ratification of a bilateral investment treaty with the UAE.
Source: Pexels
The RoSCTL scheme for the export of apparel, and a sugar subsidy scheme for Antyodya Anna Yojna families were extended for two years up to 31 March 2026.
Source: winter clothes
The animal husbandry infrastructure development fund (AHIDF) has been extended for another three years, also till 31 March 2026.
Source: Facebook Photo
The RoSCTL scheme will provide a stable policy regime to help in long-term trade planning, so in textiles where orders can be placed in advance for long-term delivery.
Source: Pexels
RoSCTL compensates exporters by way of rebates for state and central taxes and levies in addition to the duty drawback scheme on the export of garments and made-ups.
Source: winter clothes
The central taxes covered are central excise duty on fuel used in transportation, and embedded CGST paid on inputs such as pesticides and fertilizer, among others.
Source: Pexels Photo
Under the sugar subsidy scheme, the Centre gives subsidy of ₹18.50 per kg per month of sugar to AAY families of participating states.
Source: Pexels
The approval is expected to extend benefits of more than ₹1,850 crore during the period of the 15th Finance Commission (2020-21 to 2025-26).
Source: Shutterstock
The treaty with the UAE is expected to improve the confidence of investors, especially large investors, resulting in an increase in foreign investments and ODI opportunities.
Source: AP