According to the news report by The Economic Times, the Federation of Indian Exports Organisation (FIEO) has recommended a number of suggestions to the Finance Ministry of India for Financial Budget 2021-22.
The suggestions are as follows-
Bringing double tax deduction scheme and setting up of an export development fund to the finance ministry.
Tax deduction on product development, providing deemed export status to Indian industry under the global bidding of procurement
ECGC coverage to the Banks for export finance
Higher budget allocation to the Department of Commerce.