Indian Economy :
Consider the following statements regarding the newly proposed World Trade Organization (WTO)-Compliant Export Promotion Scheme:
- The government proposed a World Trade Organization (WTO)-Compliant Export Promotion Scheme along with a production based support scheme to boost Make in India.
- It is one of the 100-days agenda of the Modi 2.0 government.
- The new export promotion scheme may replace the existing Merchandise Export from India Scheme (MEIS) as the US has challenged India’s existing export subsidy schemes at the WTO on the grounds of its incompatibility with multilateral rules.
- It will be on the nature of refund of all un-rebated central and state taxes and levies scheme on inputs consumed in exports in all sectors.
Which of the given statements is/are correct?
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