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Union Budget 2018 predicts exports to expand by 15 per cent this year

Business
DC Correspondent
1 Feb 2018 11:59 AM IST
The country's merchandise shipments rose 12.36 per cent to USD 27.03 billion in December 2017.
To improve ease of doing business, a new scheme of self-assessment-based duty-free procurement of inputs required for exports has been introduced.
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To improve ease of doing business, a new scheme of self-assessment-based duty-free procurement of inputs required for exports has been introduced.

New Delhi: Finance Minister Arun Jaitley predicts the country's exports are likely to expand by about 15 per cent during the current fiscal.

"Our exports are expected to grow at about 15 per cent in 2017-18," he said while presenting Union Budget 2018-19 here.

The country's merchandise shipments rose 12.36 per cent to USD 27.03 billion in December 2017.

Cumulatively, exports during April-December 2017-18 grew by 12.05 per cent to USD 223.512 billion.

Total exports value was recorded at USD 274.64 billion in 2016-17, up from USD 262.29 billion in the preceding year.

Read: Union Budget 2018 LIVE: Govt allocates Rs 95,754 cr for SC, ST welfare

Currently, the government provides export incentives through two schemes ? merchandise and services export from India scheme.

In December last year, the government announced incentives worth Rs 8,450 crore to boost exports of goods and services, mainly from labour-intensive sectors.

union budget 2018 Arun Jaitley Indian economy exports 
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