GoI Announces 3 percent interest subsidy scheme for exporters.

Q.  GoI has announced 3 percent interest subsidy scheme for exporters to boost overseas shipping. What is the name of the scheme?
- Published on 19 Nov 15

a. Interest Subvention Scheme on Pre and Post Shipment Rupee Export Credit
b. Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit
c. Interest Management Scheme on Pre and Post Shipment Rupee Export Credit
d. None of the above

ANSWER: Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit
 
GoI has announced 3 percent interest subsidy scheme for exporters which will have a financial implication of about Rs 2,700 crore, concerned over declining exports. Financial implication of the scheme will be in the range of INR 2500 to 2700 crore. Rate of interest equalisation will be 3%. This will be evaluated after 3 years. Actual implication will depend on level of exports. Funds worth around INR 1625 crore in the non plan head of account are available under Demand for Grants for 2015-2016. Scheme will be available to exports of MSME and as many as 416 tariff lines.

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