Budget 2023-24: Govt likely to allocate Rs 4,500 cr in budget to promote districts as export hubs

New Delhi, Dec 19 (KNN) With the aim to boost districts as export hubs for specific products, the finance ministry is expected to propose a Rs 4500-crore plan in the upcoming Union Budget 2023-24, an official said.

As per reports, the primary objective of the government is to enhance rural entrepreneurship and exports of novel, indigenous, organic, and ethnic products.

In the beginning around 50 districts will be included and later on the scheme will expand to 733 districts. Products and services including Geographical Indications and other significant products have been identified from each district for the scheme.

The commerce and industry ministry is working on an integrated scheme that combines Districts as Export Hub (DEH) and One District One Product (ODOP), which is likely to be announced in Budget FY24, reported Economic Times.

The DEH initiative framework comprises formation of District Export Promotion Committee and preparation of District Strategy or Action Plan. District Export Promotion Committee and State Export Promotion Committees have been constituted in all 36 states and union territories, the report added.

The ODOP plan aims to boost the manufacturing of products being produced in districts through exports.

The Draft District Action Plan has been prepared for 570 districts, and the ministry has developed a web portal to monitor the progress, the report quoted officials as saying.

The development comes at a time when India’s November exports were reported flat at USD 31.99 billion as compared to USD 31.88 billion in the same month last year. Imports rose 5.4 per cent to USD 55.9 billion during the month as compared to USD 53 billion in the year-ago period.  (KNN Bureau)