The interest subvention scheme on rupee export credit may be extended till March 31 next year. Also, more sectors may be included in the scheme, which is scheduled to end on March 31 this year. At present, the scheme covers four sectors, handicrafts, handloom, carpet and MSME (micro, small and medium enterprises). The exporters get interest subvention, also known as interest subsidy at 2 per cent. A person familiar with the development said, “With global markets still uncertain, a need is being felt to extend the scheme for one more year. We may see some announcement in the Budget.” The extended scheme, if announced, will be effective from April 1.
Source: The Hindu Business Line
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