In another round of economic boosters, Finance Minister Nirmala Sitaraman today announced measures related to exports and home buyers. Sitharaman announced six steps to boost exports including Dubai-like mega annual shopping festival from next year, new automatic refund system for exporters from next month and new RoDTEP scheme on export duties.
For home buyers, government has set up a stress fund of Rs 10,000 crore for completion of stalled projects. However, the fund will not cover the projects affected by NPA and NCLT issues. Home buyers of the national capital region are most affected with developers like Jaypee Infratech, Amrapali and Unitech defaulting in completing their housing projects on time.
This special window will provide last mile funding for housing projects which are non-NPA and non-NCLT projects. It will focus on unfinished projects.
Real estate external commercial borrowing guidelines to be relaxed for affordable housing.
* NIIF, LIC to invest in the stress fund for the industry
* Dubai-like annual mega shopping festival to be organised at four places across India by March 2020.
* Themes for the shopping festival will be Yoga, Textile, Tourism and Leather.
* New scheme for exporters: Scheme for Remission of Duties or Taxes on Export products will replace MEIS. Revenue foregone projected at up to Rs 50,000 crore.
For home buyers, government has set up a stress fund of Rs 10,000 crore for completion of stalled projects. However, the fund will not cover the projects affected by NPA and NCLT issues. Home buyers of the national capital region are most affected with developers like Jaypee Infratech, Amrapali and Unitech defaulting in completing their housing projects on time.
This special window will provide last mile funding for housing projects which are non-NPA and non-NCLT projects. It will focus on unfinished projects.
Real estate external commercial borrowing guidelines to be relaxed for affordable housing.
* NIIF, LIC to invest in the stress fund for the industry
* Dubai-like annual mega shopping festival to be organised at four places across India by March 2020.
* Themes for the shopping festival will be Yoga, Textile, Tourism and Leather.
* New scheme for exporters: Scheme for Remission of Duties or Taxes on Export products will replace MEIS. Revenue foregone projected at up to Rs 50,000 crore.
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