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The government has disbursed ₹1,433 crore up to March under the interest subsidy scheme to exporters, the Commerce Ministry today said. The Centre’s interest equalisation scheme, announced last December, reduces cost of capital by allowing three per cent interest subsidy on pre- and post-shipment rupee export credit to eligible exporters. “Indian exporters pay high rate of interest on the capital borrowed... all products manufactured and exported by SMEs (are) eligible. Up to March 2016, benefit to the tune of ₹1,432.90 crore has been passed on to eligible borrowers,” the Ministry said in a statement.
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