New Delhi: The government on Friday enhanced the scope of Transport and Marketing Assistance (TMA) scheme for specified agriculture products by including dairy products under its purview and increasing the rates of assistance.
The scheme has been extended till March 31, 2022, according to an official statement.
Enhanced assistance under the revised scheme is expected to help Indian exporters of agricultural products to meet rising freight and logistics costs, the statement said.
In 2019, the government announced the scheme for providing financial assistance for transport and marketing of agricultural products to boost exports of such commodities to certain countries in Europe and North America.
Under the TMA plan, it reimburses a certain portion of freight charges and provides assistance for marketing of agricultural produce.
“Now the Department of Commerce has notified revised TMA for specified agriculture products scheme for exports effected on or after April 1, 2021 up to March 31, 2022. The existing scheme will remain in operation for exports effected up to March 31, 2021,” the statement said.
Dairy products, which were not covered under the earlier scheme, will now be eligible for assistance, it said adding that rates of assistance have been increased, by 50 per cent for exports by sea and 100 per cent through air.
The scheme was introduced to provide assistance for the international component of freight, to mitigate disadvantage of higher freight costs faced by the Indian exporters of agriculture products.
It was initially applicable for exports effected during March 1, 2019 to March 31, 2020. It was later extended up to March 31, 2021.
The Directorate General of Foreign Trade (DGFT) will shortly notify the procedure for availing assistance under the revised scheme.