ISLAMABAD: The Ministry of Planning, Development and Reforms has so far authorised the release of Rs81.132 million of the total allocation of Rs 202.828 million for various textile industry development projects under its Public Sector Development Program (PSDP) for financial year 2019-20.
The rupee on Monday opened 6 paise higher at 70.76 against the US dollarNSE -0.97 % on account of some selling in the American currency by banks and exporters.
The government has held up the release of benefits worth thousands of crores to garment and made-up exporters under two major schemes — the Merchandise Export from India Scheme (MEIS) and the Rebate of State and Central Taxes & Levies (RoSCTL) — at a critical juncture when exports are slipping.
The RBI central board on Friday discussed policy framework for cooperative banks, NBFCs, current economic situation and domestic and global challenges.
Industry has pitched for staggered implementation of new tax returns under the goods and services tax (GST) system, which are scheduled to be introduced from the beginning of next financial year.
Ludhiana: For fourth month in a row the exports of readymade garments from India has fallen as compared to last year.