Question

    The Ministry of Micro, Small and Medium Enterprises is

    implementing the ‘International Cooperation Scheme’ under which financial assistance is provided to Micro, Small and Medium Enterprises (MSMEs) to promote export from them. With reference to the above scheme,consider the following statements- I.75 percent of the cost paid subject to a maximum of Rs. 40,000/- or actual, whichever is lower subject to quarterly reporting by Export Promotion Councils (EPCs) as per prescribed format. II.Maximum reimbursement in a financial year of Rs. 10,000/- or actual, whichever is lower subject to quarterly reporting by ECGC as per prescribed format. III.With respect to the fee paid on Testing & Quality Certification acquired by MSEs to Export Products,reimbursement allowed for a maximum of 3 certificates per financial year with a ceiling of Rs. 1.5 Lakh per MSE unit. Which of the following is/are correct?
    A Only I Correct Answer Incorrect Answer
    B Only II Correct Answer Incorrect Answer
    C Only I & II Correct Answer Incorrect Answer
    D Only II & III Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The Ministry of Micro, Small and Medium Enterprises is implementing the ‘International Cooperation Scheme’ under which financial assistance is provided to Micro, Small and Medium Enterprises (MSMEs) to promote export from them. The scheme covers all the districts of the country. Registration-cum-Membership Certificate (RCMC) charges/fee paid by the first-time exporter to related Export Promotion Councils-75 percent of the cost paid subject to a maximum of Rs. 20,000/- or actual, whichever is lower subject to quarterly reporting by EPCs as per prescribed format. Export Insurance Premium paid to Export Credit Guarantee Corporation (ECGC) under the ECGC’s Small Exporter Policy-Maximum reimbursement in a financial year of Rs. 10,000/- or actual, whichever is lower subject to quarterly reporting by ECGC as per prescribed format. Fee paid on Testing & Quality Certification acquired by MSEs to Export Products-75 percent of the testing and quality certification with a ceiling of Rs. 1.00 Lakh or actual, whichever is lower, subject to following conditions: Reimbursement allowed for a maximum of 3 certificates per financial year with a ceiling of Rs. 1.00 Lakh per MSE unit.Certificate, for which reimbursement claim is requested, should be attained within the same financial year.

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