Govt may extend interest equalisation scheme

The government may soon extend the interest equalisation scheme, which lapsed on March 31, to shore up the export sector impacted by the COVID-19 pandemic, an official said.

Under the scheme, exporters get 3-5 per cent subsidy on loans for specified items. It was announced in April 2015 for five years.

Addressing aWebinar organised by Ficci, Director General of Foreign Trade Amit Yadavsaid, In the weeks ahead, you would be hearing a good news with regard to the extension of interest equalisation scheme.

"We are ensuring that exports come back on the track. The export data for March is an indicator; the impact of the present crisis could be seen from the export data of March and that for April would also be similar," a Ficci statement quoted Yadav as saying.

Hesaid the government has been holding regular interactions with the stakeholders in these difficult time, which was "never imagined" .