{"id":86454,"date":"2020-02-03T15:58:49","date_gmt":"2020-02-03T10:28:49","guid":{"rendered":"http:\/\/factly.forumias.com\/?p=13434"},"modified":"2020-02-03T15:58:49","modified_gmt":"2020-02-03T10:28:49","slug":"budget-announces-implementation-of-nirvik-scheme","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/budget-announces-implementation-of-nirvik-scheme\/","title":{"rendered":"Budget announces implementation of Nirvik Scheme"},"content":{"rendered":"\n<p><strong>News:<\/strong>The Finance minister has announced the NIRVIK (Niryat Rin Vikas Yojana) scheme in the Budget 2020.<br><\/p>\n\n\n\n<p><strong>Facts:<\/strong><br><\/p>\n\n\n\n<p><strong>About NIRVIK Scheme:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Aim:<\/strong>To provide a) enhanced insurance cover b) reduced premium for small exporters and c) Simplified procedure for claim settlements.<\/li><li><strong>Ministry:<\/strong>The scheme is being prepared by the Ministry of Commerce and Industry.<\/li><\/ul>\n\n\n\n<p><strong>Features of the scheme:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Under the scheme,the insurance cover guaranteed will cover up to 90% of the principal and interest.The insurance cover will include both pre and post-shipment credit.<\/li><li>At present,the Export Credit Guarantee Corporation(ECGC) provides a credit guarantee of up to 60% loss.&nbsp;<\/li><\/ul>\n\n\n\n<p><strong>Significance of the scheme:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The scheme will help make Indian exports competitive and make ECGC procedures exporter friendly, benefiting MSME exporters.<\/li><li>The insurance cover is also expected to bring down the cost of credit due to capital relief, less provision requirement and liquidity due to quick settlement of claims.<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/8jOQXgrpzowviHh-VFSsLQj9D4VX_YQnwWJo2LlJ_HcmjOtyRb4m-ntQkXY73MyR_T3j6TwQpm37YgKnCAUByEhI0a4MellCP0rvnF-2zm1NnDb5WMCw3XjedGU-pg0VAleMW75f\" alt=\"\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>News:The Finance minister has announced the NIRVIK (Niryat Rin Vikas Yojana) scheme in the Budget 2020. Facts: About NIRVIK Scheme: Aim:To provide a) enhanced insurance cover b) reduced premium for small exporters and c) Simplified procedure for claim settlements. Ministry:The scheme is being prepared by the Ministry of Commerce and Industry. Features of the scheme:&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/budget-announces-implementation-of-nirvik-scheme\/\">Continue reading <span class=\"screen-reader-text\">Budget announces implementation of Nirvik Scheme<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3127],"tags":[3851,388],"class_list":["post-86454","post","type-post","status-publish","format-standard","hentry","category-economy","tag-nirvik-scheme","tag-union-budget","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704915546},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86454","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=86454"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/86454\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=86454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=86454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=86454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}