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Government extends RELIEF scheme for exporters till March 2027
ଖବରରେ କାହିଁକି?
RELIEF covers 95% of export risk till March 2027: the ECGC link GS3 tests
RELIEF export-risk cover scheme extended to March 2027.
Why it matters: factual, Prelims-type
What you need to know
2 ମିନିଟ
The Government has extended the RELIEF scheme for exporters until March 2027 in view of the West Asia crisis.
The scheme offers 95% risk cover under eligible policies of the Export Credit Guarantee Corporation (ECGC).
Exporters have asked for clarity on the documentation needed to file claims.
ଉତ୍ସ: Topper IAS editorial (PIB / The Hindu / Indian Express)
ମୁଖ୍ୟ ତଥ୍ୟ
Remember these
- RELIEF scheme for exporters extended until March 2027 amid the West Asia crisis
- The scheme offers 95% risk cover under eligible ECGC policies
- ECGC (Export Credit Guarantee Corporation of India) is a Government of India enterprise under the Ministry of Commerce and Industry
- ECGC provides export credit insurance, protecting exporters against payment default risks
- Exporters have sought clarity on the documentation needed to file claims
ପ୍ରିଲିମ୍ସ · ମେନ୍ସ
How the exam will ask it
ପ୍ରିଲିମ୍ସ
- The Export Credit Guarantee Corporation of India functions under the Ministry of Commerce and Industry.
- ECGC insures Indian exporters against the risk of non-payment by overseas buyers.
- The RELIEF scheme provides 95% risk cover under eligible ECGC policies and now runs until March 2027.
ମେନ୍ସ
GS3 (Economy: external sector). Geopolitical shocks such as the West Asia crisis raise payment, shipping and buyer-default risks for exporters; extending RELIEF with 95% ECGC-backed cover cushions them and protects export competitiveness. Way forward: simplify claim documentation, speed up settlement and diversify export markets to reduce exposure to a single region.
Quick recall
Answer before you reveal
The Export Credit Guarantee Corporation of India (ECGC), which provides export credit insurance to Indian exporters, functions under the:
- Ministry of Finance
- Ministry of External Affairs
- Reserve Bank of India
- Ministry of Commerce and Industry
ଉତ୍ତର ଦେଖନ୍ତୁ
ଉତ୍ତର: D — The correct answer is the Ministry of Commerce and Industry. ECGC is a Government of India enterprise under that ministry; it insures exporters against payment risks, which is the cover the RELIEF scheme builds on.
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