The Union Cabinet has approved the long-awaited interest subvention
scheme that would allow exporters, mostly in the labour-intensive and
small and medium sectors, to avail of loans from banks at a 3 %
lower rate.
"The scheme will give a boost to exporters in sectors such as
handicrafts, agriculture products, food processing ventures, and small
and medium enterprises that were not able to access foreign loans and
were dependent on high-cost domestic loans," Piyush Goyal, Minister of
State for Coal, Power and Renewable Energy, said at a press briefing on
Wednesday Nov 18,2015
The interest subvention scheme, the provision for which was made in this
year's Budget, will be applicable from April 1, 2015, Goyal said.
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