INTEREST SUBVENTION SCHEME EXTENDED TILL MARCH 2010
Date : 09 Jul 2009
Location : New Delhi
With a view to insulate the employment-oriented export sectors from the global meltdown, the interest subvention scheme has been extended beyond the current deadline of September 30, 2009 to March 31, 2010. This was recently announced in the General Budget 2009-10. This scheme provides an interest subvention of 2% on pre-shipment credit for seven employment-oriented export sectors, viz., textiles including handlooms, handicrafts, carpets, leather, gems & jewellery, marine products and small & medium exporters. This will help in lowering the cost of credit to these sectors.