ENA MSME 2022-10-21 07:17:54 <p><strong>New Delhi, Oct 21 (KNN)</strong> To help MSME exporters relieve from the burden of rising interest rates the government is planning to raise the interest equalization or subsidy benefit extended to them.</p> <p><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></p> <p>The move to provide credit at interest rates that are lower than the market rate comes at a time when Indian exporters are facing a serious challenge on account of slowing demand in key markets amid record inflation and the threat of a global recession, reported Mint.</p> <p>For MSME manufactures the interest subsidy shall be increased from 3 per cent to 5 per cent and for manufacturer-exporters and merchant-exporters exporting under 410 tariff lines it would be increased from 2 per cent to 3 per cent.</p> <p>The proposal will be moved to the Ministry of Finance by the Department of Commerce which is calculating the cost of the exercise.</p> <p>The scheme helps exporters get access to capital at a reduced cost.</p> <p>Exporters have been pressing the government to restore the interest equalization benefits amid a series of interest rate hikes by the central bank. <em><strong>(KNN Bureau)</strong></em></p> 30935 https://knnindia.co.in/news/newsdetails/msme/centre-likely-to-increase-interest-rate-subsidy-for-msme-exporters 2022-10-21 07:17:54 knnindia.co.in