ENA MSME 2023-01-02 07:35:54 <p><span style="font-size:14px"><strong>New Delhi, Jan 2 (KNN)</strong> In the upcoming annual budget for 2023-24, the central government is planning to raise interest rate subsidy for small and medium exporters, reported The Mint.</span></p> <p><span style="font-size:14px">Amid a series of interest rate hikes by the central bank, exporters have been demanding the government to restore the interest equalization benefits.</span></p> <p><span style="font-size:14px"><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></span></p> <p><span style="font-size:14px">To relieve some of the interest rate burden on them due to a tightening monetary policy, the government is considering raising interest equalization or subsidy benefits extended to MSME exporters in union budget for the next financial year.</span></p> <p><span style="font-size:14px">The proposal to extend the low interest rate benefit is being examined at a time Indian exporters are facing headwinds on account of slowing demand in key markets amid record inflation and the threat of a global recession, reported The Mint.</span></p> <p><span style="font-size:14px">The government is examining the cost to the exchequer if the interest subsidy is hiked from 3 per cent to 5 per cent for micro, small and medium manufacturers, and from 2 per cent to 3 per cent for manufacturer-exporters and merchant-exporters exporting under 410 tariff lines.</span></p> <p><span style="font-size:14px">Due to concerns raised by exporters the department of commerce is learnt to have discussed the proposal with the finance ministry. <em><strong>(KNN Bureau)</strong></em></span></p> 31771 https://knnindia.co.in/news/newsdetails/msme/centre-likely-to-hike-interest-rate-subsidy-for-msme-exporters-in-budget 2023-01-02 07:35:54 knnindia.co.in