Finance Minister announces measures to restore Export Growth

To provide assistance to the exporters and help them overcome the short term disadvantages, the Union Finance Minister Shri Pranab Mukherjee in the General Budget 2009-10, has announced the extension of the Adjustment Assistance Scheme for providing enhanced Export Credit and Guarantee Corporation (ECGC) cover of 95% up to March 2010. The Scheme was initiated in December 2008 to mitigate the difficulties faced by the exporters.

He further enhanced the allocation of the Market Development Assistance (MDA) Scheme by 148% over B.E. 2008-09 to Rs.124 crore. The MDA scheme provides support to exporters in developing new markets. He added that with many traditional markets still under financial stress, greater effort is required to identify and develop new markets.

Source : Equity Bulls

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