To support the export sector amid lockdown and corona crisis, the government may soon decide to expand the interest equalization scheme. This information has been received by an officer. Under this scheme, exporters get a grant of 3-5 percent on loans for special items. The scheme was announced in April 2015 for five years. Addressing a webinar organized by FICCI, Director General of Foreign Trade Amit Yadav said, "In the coming weeks you will hear good news regarding the expansion of the interest equalization scheme."
Government launch this mobile app to buy medicines
In his statement, Yadav was quoted in a statement from FICCI as saying, "We are making sure that the export is back on track." The current crisis can be seen in the figures for exports for March and the figures for April are also likely to remain the same. He said that this difficult time was never imagined. The government is regularly interacting with stakeholders in this difficult time.
Big relief for common man in lockdown, heavy fall in gas cylinder prices
On March 25, a 21-day nationwide lockdown was imposed to prevent the spread of coronavirus infection in India. After this, the Prime Minister had announced to extend this lockdown to 40 days. Now the lockdown period will end on 3 May. Due to the nationwide lockdown, industrial and business activities in the country are severely affected which has a direct impact on exports as well.
