Export Budget 2020: New Nirvik scheme, Rs 27,300 crore for development of industry and commerce
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In a massive boost for the Export sector, Finance Minister Nirmala Sitharaman announced total allocation of Rs 27,300 crore for development of industry and commerce in FY 21. She said a new Nirvik scheme will be offered for exporters. This will have lower premiums and a faster claims settlement. Refund to exporters the duties levied including electricity and VAT, every district will be developed as an export hub.