The scheme may be slightly modified but broadly will remain intact and will be approved by the Finance Ministry. So far, the scheme has got a budget allocation of ₹9,538 crore since FY22, followed by ₹2,500 crore more in December last year. The scheme offers credit access at a subsidised rate to individual exporters, to the tune of ₹10 crore per annum per import export code. The government will reimburse the banks for the low rate of interest they are offering. Exporters use the scheme to lower their cost of credit which improves their competitiveness.
