Expect to introduce special scheme for exporters in budget

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New delhi date. 30 January 2020, Thursday

The government may announce the implementation of a special scheme for exporters in the coming budget. Under this scheme, it will be easy to give loan to exporters on cheap and easy terms.

Special Scheme for Exporters is an Extended Debt Development Scheme with provision for subsidy on insurance premium for exporters. The insurance cover limit can be increased from 5% to 5%. Currently there is a insurance cover of 5% under ECIS.

Export credit rate available at rupees will be below 5%. Both the pre-shipment and the post-shipment will have insurance cover. The government announced the scheme in September. But so far the scheme has not been implemented. Therefore, it is likely that a decision will be made to implement the scheme in the budget.

More money will be allocated for auto, rural, road, infra

In the next budget, more money is likely to be allocated for auto, rural, road and infra. In addition, there may be allocations for a scraping center.

The government is likely to reduce the rate of income tax for the purpose of dealing with rural demand. In addition, the battery, cell import duty is likely to decrease.


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