The Government would soon bring the tax refund scheme for exporters before the Union Cabinet and would notify it, Commerce and Industry Minister Piyush Goyal informed Rajya Sabha on Friday.
Replying to supplementaries during the Question Hour, the Minister said the Government is also engaged in codifying various laws relating to labour into a far more crisper, well defined, easy to navigate and understand set of labour codes and the same would also come up before Parliament soon for approval. Goyal said the Government is also encouraging its entrepreneurs to expand their manufacturing operations in the current global trade situation where nations are engaged with each other in a trade war.
The Government has already announced the Remission of Duties or Taxes on Export Product (RoDTEP) scheme. “The scheme RoDTEP was announced by the finance minister for refund of various taxes to exporters. These will be refunded through the RoDTEP scheme. We will be shortly be going to the Union Cabinet and notify this,” he told the House.
“With growing tensions between countries, the Government of India is seeing at opportunities for our manufacturers and is seized of this to allow our entrepreneurs to expand their operations and get more and more manufacturing attracted to India,” he said.
The Minister said India cannot afford to be left behind in the race for technology and therefore government has been focusing very heavily on skill development to ensure modern manufacturing technology with 3D manufacturing, artificial intelligence, better data analytics.