[Latest] Schemes for Traders 2021

Schemes for Traders | National Pension Scheme for traders | Emergency Credit Line Guarantee Scheme | Export Promotion Capital Goods Scheme | Import and Export Reated Schemes

Schemes for Traders

There are number of schemes that have been launched for supporting traders. Details of some of the Schemes for supporting Traders are given as under:

National Pension Scheme for Traders, Shopkeepers and Self-Employed Persons

 “National Pension Scheme for Traders, Shopkeepers and Self-Employed Persons” was launched  by Ministry of Labour & Employment on 12-Sep-2019. It is a voluntary pension scheme which was started by the GOI. Enrollment to the scheme is done through the CSC Centres with its network of 3.50 lakh Centres across the country.

Eligible candidates can also self-enroll through visiting the portal www.maandhan.in. 

Eligibility criteria for National Pension Scheme for Traders, Shopkeepers and Self-Employed Persons

  • Age Limit: The traders in the age group of 18-40 years with an annual turn over of less than Rs. 1.5 crore can apply for National Pension Scheme.
  • The traders which are not member of EPFO/ESIC/MPS/PM-SYM or an income tax payer, can apply for the scheme.

Benefits of the Schemes for Traders

  1. Under the scheme, 50% monthly contribution is payable by the beneficiary and equal matching contribution is paid by the Central Government.
  2. Traders, after attaining the age of 60 years, are eligible for a monthly minimum assured pension of Rs. 3,000/-.

Documents Required

  1. Aadhar card
  2. Savings Bank Account / Jan Dhan account number with IFSC

Life Insurance Corporation (LIC) of India acts as a fund manager and record keeping agency. The LIC is also responsible for managing the pension fund and pension payout. As on 31.01.2021, over 43000 enrolments have taken place under this scheme.

  1. Contribution by the retail traders/ shopkeepers and self-employed persons Through ‘auto-debit’ facility from his/ her savings bank account/ Jan- Dhan account from the date of joining NPS-Traders till the age of 60 years as per the chart below. The Central Government will also give equal matching contribution in his pension account.
Entry AgeSuperannuation AgeMember’s  monthly contribution(Rs)Central Govt’s  monthly contribution(Rs)Total monthly contribution  (Rs)
(1)(2)(3)(4)(5)= (3)+(4)
18605555110
19605858116
20606161122
21606464128
22606868136
23607272144
24607676152
25608080160
26608585170
27609090180
28609595190
2960100100200
3060105105210
3160110110220
3260120120240
3360130130260
3460140140280
3560150150300
3660160160320
3760170170340
3860180180360
3960190190380
4060200200400

Contact Details

  • Customer care number 1800 267 6888 
  • Web portal/ app will also have the facility for registering the complaints

Emergency Credit Line Guarantee Scheme (ECLGS)

ECLGS Emergency Credit Line Guarantee Scheme was launched by Government of India as an emergency measure to deal with the unprecedented crisis caused in the wake of Covid-19 pandemic in India.

Eligibility Criteria for Emergency Credit Line Guarantee Scheme (ECLGS)

  • Under Emergency Credit Line Guarantee Scheme, credit from Scheduled Commercial Banks, Financial Institutions, Non- Banking Financial Companies(NBFC) is provided to eligible Micro, Small & Medium Enterprise (MSME) units, business enterprises and individual loans for business purposes upto 20% of their outstanding credit as on 29.2.2020.
  • This additional credit is fully covered by a credit guarantee provided by National Credit Guarantee Trustee Company Ltd. (NCGTC).
  • The loans provided under ECLGS have a 12-month Period on repayment of principal.
  • The Scheme has been extended through ECLGS 2.0 for the 26 sectors identified by the Kamath Committee and the health care sector.
  • The entities with outstanding credit above Rs. 50 crore and not exceeding Rs. 500 crore as on 29.2.2020 were made eligible under ECLGS 2.0.

Benefits of Emergency Credit Line Guarantee Scheme

  1. The scheme is valid till 31.3.2021 or till guarantees for an amount of Rs 3,00,000 crore is sanctioned, whichever is earlier.
  2. ECLGS is also available to eligible non-MSME enterprises. As informed by NCGTC, as on 25.1.2021, the cumulative sanctioned amount under the scheme is Rs 2.39 lakh crore.

Import and Export Reated Schemes

There are various schemes that have been launched to promote import and export at international level. Details of some of the Government Schemes to promote import and export at international level are given below:

Remission of Duties and Taxes on Exported Products (RoDTEP)

Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme has been introduced on  01 Jan 2021. Department of Revenue (DoR) and the Department of Commerce (DoC) are working to finalize the modalities related to the scheme, including scheme guidelines, exclusion categories etc.

The Department of Revenue has constituted a RoDTEP Committee to interact with the all stakeholders, including Exporters, Export Promotion Council and Ministries and to recommend to the Government ceiling rates for items/ sectors identified by the Government. The Committee’s work is ongoing. The disbursal of rebate amounts to individual exporters is to be implemented by the CBIC in an end-to-end digitized environment in the form of electronic transferable duty credit scrips, which will be maintained at the Customs server.

The RoDTEP Remission of Duties and Taxes on Exported Products  Scheme is based on the principle that taxes and duties are not to be exported and will help in stimulating exports by making Indian merchandise cost competitive in international markets.

Export Promotion Capital Goods Scheme

Under Export Promotion Capital Goods scheme, the export obligation can be fulfilled directly by the authorisation holder or though a merchant exporter. Even exports though merchant exporter is counted for fulfilling export obligation, provided, the Authorization details of manufacturer is indicated in the export documents.

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