Budget 2023: Allocation to schemes for boosting exports increased

The Union Budget 2023-24 has increased the allocation for some key export-boosting schemes, at a time when tepid external demand from developed economies are weighing on outbound shipments from India.
 
Allocation for the commerce department’s key Remission of Duties and Taxes on Export Products (RoDTEP) scheme has been increased by 10 per cent, from Rs 13,699 crore in 2022-23 to Rs 15,069 crore in the next financial year.
 
Rebate of State and Central Taxes and Levies (RoSCTL) — a similar scheme for garments and made-ups — the total outgo from the Centre will be Rs 8,405 crore in