FIEO Suggestions To FM For Budget 2021

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.