| Date: |
27-05-2011 |
| Subject: |
Centre Plans To Relaunch Interest Rate Subsidy For SME Exporters |
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Centre is planning to bring back the interest rate subsidy regime for the small and medium enterprises(SME) and labour-intensive exporters since many export promotion schemes are on the verge of ending.
The government may reintroduce the 2% interest subvention scheme soon. In this regard, the Finance Minister and the Commerce and Industry Minister will be meeting to discuss the issue. The exporters feel that the rollback of the interest subsidy from April 1 has led to the surge in the rate of pre and post-shipment export finance by more than 50%.
The Federation of Indian Export Organisations (FIEO) has asked for export credit at 7 percent for SME and labour-intensive sectors and 9% for other exporters. The Duty Entitlement Pass Book (DEPB) scheme is scheduled to end on June 30.
Source : news.indiamart.com
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