Shruti Srivastava And Siddhartha Singh Bloomberg

On Saturday, Finance Minister Nirmala Sitharaman said the tax refund program for exporters from January 1 will cost the government Rs 50,000 crore ($7 billion) in revenue annually.

The government is trying to curb overseas shipments to prevent a further widening of the current-account deficit and stem the fall of the rupee. The currency, which has been plummeting for six straight months in the longest stretch since 2002, is seen hitting 75 per dollar by year-end, according to median of 10 analysts surveyed by Bloomberg.

The central government will cut excise duty on petrol and diesel by Rs 1.5 a liter, Finance Minister Arun Jaitley said in Delhi on Thursday, a day before the inflation-targeting Reserve Bank of India decides on monetary policy.

India expressed concern about the rupee's decline for the first time and said it's considering a plan to tap its citizens overseas, according to a government official.

The government has signaled it will press ahead with the roll out of the national goods and services tax or GST on July 1, pushing back against speculation it's considering delaying the launch of one of its flagship reforms.

On Saturday, Finance Minister Nirmala Sitharaman said the tax refund program for exporters from January 1 will cost the government Rs 50,000 crore ($7 billion) in revenue annually.

The government is trying to curb overseas shipments to prevent a further widening of the current-account deficit and stem the fall of the rupee. The currency, which has been plummeting for six straight months in the longest stretch since 2002, is seen hitting 75 per dollar by year-end, according to median of 10 analysts surveyed by Bloomberg.

The central government will cut excise duty on petrol and diesel by Rs 1.5 a liter, Finance Minister Arun Jaitley said in Delhi on Thursday, a day before the inflation-targeting Reserve Bank of India decides on monetary policy.

India expressed concern about the rupee's decline for the first time and said it's considering a plan to tap its citizens overseas, according to a government official.

The government has signaled it will press ahead with the roll out of the national goods and services tax or GST on July 1, pushing back against speculation it's considering delaying the launch of one of its flagship reforms.