Niryat Rin Vikas Yojana also called NIRVIK Scheme was announced recently in the Union Budget 2020-21 in Parliament by the Finance Minister of India, Nirmala Sitharaman. The article shares some of the important aspects of the NIRVIK Scheme 2020.
The article shared the following about Niryat Rin Vikas Yojana (NIRVIK):
- NIRVIK Scheme Eligibility Criteria,
- NIRVIK Scheme Implementation Process
About NIRVIK Scheme
NIRVIK Scheme 2020 was formulated by the Finance Minister of India, Nirmala Sitharaman to provide high insurance cover for the exporters in the country. The scheme will reduce the premium for small exporters. Niryat Rin Vikas Yojana Scheme 2020 will help in achieving higher export credit disbursement.
While presenting the Budget 2020-21, the Finance Minister of India, Nirmala Sitharaman said the Niryat 2020 Yojana will provide the following benefits:
- High insurance cover
- Reduction in premium for small exporters
- Simplified procedures for the claim, settlement, and other things
NIRVIK Scheme Details
|Name||NIRVIK Scheme 2020|
|Launched by||Finance Minister|
|Objective||Providing high insurance cover for exporters|
NIRVIK Scheme Implementation
Commerce and Industry Ministry prepared the Niryat Rin Vikas Yojana 2020 will cover the insurance guarantee of up to 90% of the principal and interest. NIRVIK Scheme 2020 will provide different insurance covers to the exporters. The Ministry of Commerce and Industry has proposed to subsidize the premium under Niryat Rin Vikas Yojana 2020 that the exporters from the selected key sectors have pay. NIRVIK Scheme 2020 will help the financially weak exporters to take the loans for their goods and services preparation.
NIRVIK Scheme Application Process
The detailed registration process for Niryat Rin Vikas Yojana 2020 scheme is not yet available for the common public.