Q. What is the primary objective of the Nirvik Scheme?
Answer: To assist small exporters
Notes: The Nirvik Scheme, or Export Credit Insurance Scheme (ECIS), was introduced in the 2020-21 Union Budget to bolster small exporters facing challenges due to declining exports. It offers up to 90% insurance coverage on principal and interest, streamlines claims processes, and lowers premiums, thereby enhancing the competitiveness of small exporters in the global market.