(Video) Rajya Sabha TV (RSTV) The Big Picture: Measures to Boost Economy

Topic: Measures to Boost Economy

Guest:

Nitin Desai, (Former Chief Economic Adviser, GOI)
Banuchandar Nagarajan, (Former Consultant, The World Bank, Washington DC)
Professor Aman Agarwal, (Director, Indian Institute of Finance)

Topic Description:

Finance Minister Nirmala Sitharaman on Saturday announced a fresh set of relief measures, this time to boost exports and the flagging housing sector. This was her fourth such address since mid-August. In the latest press conference, FM Sitharaman announced two major measures. The first one is a new export promotion scheme for the remission of duties or taxes on export products. This scheme will completely replace Merchandise Exports from India Scheme (MEIS) and Rebate of State Levies (ROSL). MEIS and ROSL will continue up to December 2019 and the new scheme will start from the New Year. The second announcement is the set-up of a Rs 10,000 crore special fund, a special window for affordable and mid-income housing. The fund will provide the last-mile funding for housing projects that are non-NPA and non-NCLT projects and are stuck due to lack of funding.