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Interest Equalisation Scheme on Pre & Post Shipment Rupee Export Credit with effect from 1st April 2015 for five years

Dated:- 18-11-2015 - The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for Interest Equalisation Scheme (earlier called Interest Subvention Scheme) on Pre & Post Shipment Rupee Export Credit with effect from 1st April, 2015 for five years. The scheme will be evaluated after three years. The following are the features of the Interest Equalisation Scheme: (i) The rate of interest equalisation would be 3 percent. The scheme would .....

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imbursement can be made on a monthly basis through a revolving fund system, (v) On completion of three years of operation of the scheme, Department of Commerce may initiate a study on impact of the scheme on export promotion and its further continuation. The study may be done through one of the IIMs. The operational instructions of the scheme would be issued by RBI. Financial implication of the proposed scheme is estimated to be in the range of ₹ 2500 crore to ₹ 2700 crore per year. .....

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enerating sectors like processed agriculture/food items, handicrafts, handmade carpet (including silk), handloom products, coir and coir manufactures, jute raw and yarn and other jute manufactures, readymade garments and made ups covered under Chapter 61-63, fabrics of all types, toys, sports goods, paper and stationary, Cosmetics and Toiletries, Leather Goods and footwear, Ceramics and Allied Products, Glass and Glassware, Medical and Scientific Instruments, Optical Frames, Lenses, Sunglasses E .....

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