The Government of India has enhanced the scope of the Transport and Marketing Assistance (TMA) for specified agriculture products schemes by including dairy products under its purview and increasing the rates of assistance.
The rates of assistance have been increased by 50% for exports by sea and 100% through the air.
- According to the notification of the Department of Commerce, under the Ministry of Commerce and Industry, the revised TMA for specified agriculture products scheme for exports is effected on or after 1st April 2021 to 31st March 2022.
- The existing scheme will remain in operation for exports effects up to March 31, 2021.
Aim:
To assist Indian exporters of agricultural products to meet the increasing freight and logistics costs.
About revised TMA:
i.The diary products which were not previously covered under the TMA scheme will be eligible for assistance.
ii.Under this scheme, a certain portion of freight charges and assists market the agriculture produce.
Background:
i.The Department of Commerce introduced the ‘Transport and Marketing Assistance’ (TMA) scheme in 2019 to assist with the international component of freight, to mitigate the disadvantage of higher freight costs faced by the Indian exporters of agricultural products, and to boost exports of such commodities to certain countries in Europe and North America.
ii.It was initially applicable for exports with effect from March 1, 2019, to March 31, 2020. It was later extended up to March 31, 2021
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On April 19, 2021, Union Minister of Commerce & Industry Piyush Goyal Launched the Startup India Seed Fund Scheme (SISFS).
Objective- It aims to provide Financial Assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization.
About Ministry of Commerce and Industry:
Union Minister– Piyush Goyal(Rajya Sabha- Maharashtra)
Minister of State– Som Parkash(Constituency- Hoshiarpur, Punjab); Anupriya Patel(Constituency- Mirzapur, Uttar Pradesh)
