The government on Wednesday announced additional incentives for exporters including extension of two per cent interest subsidy for one more year till March 2014. Commerce and Industry Minister Anand Sharma told reporters in New Delhi that the centre also decided to introduce a pilot scheme of two per cent interest subsidy for project exports through Exim Bank. He said that his Ministry has also decided to grant incentive on incremental exports that would be made during January-March 2013 over the base period January-March 2012. Mr Sharma said with these incentives, centre will be able to give a push to exports in the last quarter of this fiscal. The objective is to stabilise the situation and move from negative territory to positive and keep the trade deficit in control. The minister said that it will be difficult to achieve the 360 billion US Dollars export target for this fiscal.AIR correspondent reports that exports during April-November period this year contracted by 5.95 per cent to over 189 billion US Dollars.
News On AIR | December 26, 2012 5:48 PM
Govt announces sops for exporters, extends 2% interest subsidy