The Union Cabinet  has approved an additional

Solution

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved an additional allocation of Rs 2500 Cr for continuation of Interest Equalisation Scheme till 30th June 2024. This would help exporters from identified sectors and all MSME manufacturer exporters to avail pre and post shipment Rupee export credit at competitive rates.The additional outlay of Rs 2500 Crore, over and above the current outlay of Rs 9538 Cr under the Scheme, is made available to bridge the funding gap to continue the Scheme upto 30.06.2024. The estimated annual expenditure under the Scheme is approximately Rs 2500 Crore.