New Delhi: The Union Finance Minister, Nirmala Sitharaman, today, said that inflation is under control and that there is a clear sign that industrial production is reviving. She also announced many measures to revitalize the economy and said that Foreign Direct Investment (FDI) has increased with August being the best-level of reserves maintained.
The Finance Minister said that the inflation rate is between 2.5% and 4% which is safe and the industrial production is showing revival in the first quarter of 2019-20.
Nirmala Sitharaman said a new scheme will be rolled out on 1 January, 2020, to boost exports. It is called the Remission of Duties or Taxes on Export Products (RoDTEP) and it will replace the Merchandise Export from India Scheme.
Another incentive to boost exports is to give higher insurance cover to banks lending working capital for exports.
In addition, India will hold annual mega shopping festivals in four places from March, 2020.
The housing sector also was given incentive by the Finance Minister. A special window is provided to for last mile funding for housing projects. Many steps were taken for the housing sector in the last 100 days.