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Govt approves continuation of scheme for rebate of state, central taxes, levies for export of garments

12:57 AM Feb 02, 2024 IST | GK NEWS SERVICE
govt approves continuation of scheme for rebate of state  central taxes  levies for export of garments
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New Delhi: The Union Cabinet approved the continuation of Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) for export of garments and made ups upto 31st March.

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Continuation of Scheme for proposed duration of two (2) years will provide stable policy regime which is essential for long term trade planning, more so in the textiles sector where orders can be placed in advance for long term delivery.

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The continuation of RoSCTL will ensure predictability and stability in policy regime, help remove the burden of taxes and levies and provide level playing field on the principle that “goods are exported and not domestic taxes”

The Union Cabinet had given approval of the scheme up to 31 March 2020 and further approval was given for continuation of RoSCTL till 31st March 2024. The present extension upto 31st March 2026 helps in enhancing export competitiveness of garments and made-ups sectors. It makes apparel/garments and Made ups products cost-competitive and adopt the principle of zero-rated export. The other textile products (excluding Chapter 61, 62 and 63) not covered under the RoSCTL, are eligible to avail the benefits under RoDTEP along with other products.

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SCHEME OF SUGAR SUBSIDY FOR AAY FAMILIES UNDER PDS APPROVED

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The Union Cabinet chaired by Prime Minister Narendra Modi approved extension of scheme of sugar subsidy for Antyodya Anna Yojna (AAY) families distributed through Public Distribution Scheme (PDS) for two more years ie 31 March 2026.

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As another indication of unwavering commitment of Central Government to wellbeing of citizens of the country and ensuring sweetness of platter of the poorest of the poor in the country, the scheme facilitates access of sugar to the poorest of the poor and adds energy to their diet so that their health improves. Under the scheme, the Central Government gives subsidy of Rs 18.5 per kg per month of sugar to AAY families of participating states

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ANIMAL HUSBANDRY INFRASTRUCTURE DEVELOPMENT FUND EXTENDED

The Union Cabinet approved the continuation of Animal Husbandry Infrastructure Development Fund (AHIDF) to be implemented under Infrastructure Development Fund (IDF) with an outlay of Rs.29,610 crore for another three years up to 2025-26.

The scheme will incentivise investments for dairy processing and product diversification, meat processing and product diversification, animal feed plant, breed multiplication farm, animal waste to wealth management (Agri-waste management) and Veterinary vaccine and drug production facilities.
Government of India will provide 3% interest subvention for 8 years including two years of moratorium for loan up to 90% from the scheduled bank and National
Cooperative Development Corporation (NCDC), NABARD and NDDB.

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