Goi caps interest equalisation at Rs 1.66 crore per IEC for July-August 2024.
Economy Business
The Government of India has announced a cap of Rs 1.66 crore per Importer Exporter Code (IEC) under the Interest Equalisation Scheme for July-August 2024. This scheme aims to support exporters by subsidizing interest rates on loans. By limiting the subsidy amount, the government seeks to manage fiscal resources effectively while continuing to facilitate export growth. The decision comes amidst efforts to boost India's exports and enhance competitiveness in global markets.
This move aims to streamline subsidies and ensure targeted support for exporters during economic challenges. The decision reflects efforts to balance fiscal prudence with export promotion objectives.
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