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The Department of Commerce has extended the Interest Equalisation Scheme for pre- and post-shipment rupee export credit for Micro, Small and Medium-scale (MSME) exporters till August 31.
According to a Department trade notice, the outlay for the extended period is ₹750 crore.
The extension is not applicable for non-MSME exporters beyond June 30.
The scheme’s terms will remain the same.
The interest equalisation scheme, first implemented in April 2015 for five years
It allows exporters of 410 identified products and all exporters from the MSME sector, to get bank credit at a subsidised interest rate determined by the government.
The rate of interest equalization shall be 2% for Manufacturers and Merchant Exporters exporting under specified 410 HS lines and 3% to the MSME manufacturers exporting under any HS line
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