Budget 2018-19 has a financial outlay of ₹2,500 crore towards interest subsidy for the export sector as well as an assurance regarding a liberalised agri-commodities export policy to boost farm shipments. The ₹2,500 crore outlay for the Interest Equalisation Scheme (IES) on pre- and post-shipment rupee export credit will provide interest equalisation coverage in respect of more than ₹1 lakh crore worth of trade shipment, the government said. In addition, there is an outlay of ₹330 crore towards the National Export Insurance Account (NEIA). The government said exports are expected to grow at 15% year-on-year in 2017-18, adding that goods exports had increased by 5.2% to $275.9 billion in 2016-17. In April-December 2017 (FY’18), exports increased by 12.1% to $223.5 billion from $199.5 billion in the corresponding period of the previous year.

Source: The Hindu February 01, 2018 15:53 UTC