The Commerce Ministry in a press conference at 3 pm is likely to provide some clarity on the long-awaited RoDTEP (Remission of Duties and Taxes on Exported Products) rates or for that matter, formally announce the launch the RoDTEP scheme, sources told CNBC-TV18.

This scheme will give assistance to exporters and India's export community has been waiting for this scheme for almost eight months now from January 1 was the official date.

The clarity that is needed now is which are the sectors, what is the rate of assistance that they are going to get?

RoDTEP is a reimbursement scheme for exporters and about Rs 17,000 odd crore was earmarked for this in the Union Budget.

The export community will also watch if they get arrears or not, because in the past Finance Minister Nirmala Sitharaman has hinted positively on this.

The Rebate on State and Central Taxes and Levies (RoSCTL) scheme was passed recently and whether it gets absorbed within this will be another key question.

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(Edited by : Abhishek Jha)

First Published:Aug 17, 2021 2:32 PM IST