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The Government of India announced new scheme ‘NIRVIK’ in the Budget for 2020-21. Which of the following sectors of economy will take the benefit from this scheme?
  • a)
    Agriculture sector
  • b)
    Industrial sector
  • c)
    Health sector
  • d)
    Export sector
  • e)
    None of the above/More than one of the above
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
The Government of India announced new scheme ‘NIRVIK’ in t...
The correct answer is Export sector.
  • The Finance Minister- Nirmala Sitharaman, announced the NIRVIK scheme in the Union Budget 2020-21 in Parliament.
  • NIRVIK-Niryat Rin Vikas Yojana.
  • The Ministry of Commerce and Industry prepared the scheme.
  • NIRVIK provides for high insurance cover, reduction in premium for small exporters and simplified procedures for a claim, settlement.
  • Under the scheme, also called the Export Credit Insurance Scheme (ECIS), up to 90 per cent of the principal and interest is covered.
  • The Ministry also proposed to subsidise the premium under the scheme that has to be paid by exporters of certain key sectors.
  • The Export Credit Guarantee Corporation currently provides credit guarantee of up to 60 per cent loss.
  • The Export Credit Guarantee Corporation (ECGC) cover will also provide additional comfort to banks as the credit rating of the borrower is enhanced to AA rated account.
  • The enhanced cover will ensure that Foreign and Rupee export credit interest rates will be below 4%and 8% respectively for exporters.
  • During April-December 2019-20, exports slipped 1.96 per cent to USD 239.29 billion, imports declined 8.9 per cent to USD 357.39 billion, leaving a trade deficit of USD 118.10 billion.
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The Government of India announced new scheme ‘NIRVIK’ in the Budget for 2020-21. Which of the following sectors of economy will take the benefit from this scheme?a)Agriculture sectorb)Industrial sectorc)Health sectord)Export sectore)None of the above/More than one of the aboveCorrect answer is option 'D'. Can you explain this answer?
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The Government of India announced new scheme ‘NIRVIK’ in the Budget for 2020-21. Which of the following sectors of economy will take the benefit from this scheme?a)Agriculture sectorb)Industrial sectorc)Health sectord)Export sectore)None of the above/More than one of the aboveCorrect answer is option 'D'. Can you explain this answer? for BPSC (Bihar) 2024 is part of BPSC (Bihar) preparation. The Question and answers have been prepared according to the BPSC (Bihar) exam syllabus. Information about The Government of India announced new scheme ‘NIRVIK’ in the Budget for 2020-21. Which of the following sectors of economy will take the benefit from this scheme?a)Agriculture sectorb)Industrial sectorc)Health sectord)Export sectore)None of the above/More than one of the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for BPSC (Bihar) 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The Government of India announced new scheme ‘NIRVIK’ in the Budget for 2020-21. Which of the following sectors of economy will take the benefit from this scheme?a)Agriculture sectorb)Industrial sectorc)Health sectord)Export sectore)None of the above/More than one of the aboveCorrect answer is option 'D'. Can you explain this answer?.
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