GOVERNMENT / POLITY
Policies
Government Unveils RELIEF Scheme 2026 to Safeguard Exporters in West Asia
The RELIEF (Emergency Export Support) Scheme 2026 was launched on March 19 to assist exporters facing logistical issues in the Strait of Hormuz.
Implemented by the Export Credit Guarantee Corporation (ECGC), it provides up to 100% risk coverage for past shipments and 95% for future ones.
The scheme specifically targets the Gulf and West Asia region, including nations like UAE, Saudi Arabia, and Israel.
MSME exporters can receive up to 50% reimbursement on costs, capped at ₹50 lakh per exporter.
This scheme is a strategic buffer against rising freight and insurance costs during geopolitical instability.
Implemented by the Export Credit Guarantee Corporation (ECGC), it provides up to 100% risk coverage for past shipments and 95% for future ones.
The scheme specifically targets the Gulf and West Asia region, including nations like UAE, Saudi Arabia, and Israel.
MSME exporters can receive up to 50% reimbursement on costs, capped at ₹50 lakh per exporter.
This scheme is a strategic buffer against rising freight and insurance costs during geopolitical instability.
Key Facts / Static GK
ECGC HQ: Mumbai
ECGC Chairman: Manoj Jain
Strait of Hormuz Connection: Persian Gulf and Gulf of Oman
ECGC Chairman: Manoj Jain
Strait of Hormuz Connection: Persian Gulf and Gulf of Oman
Practice Quiz — 21 March 2026
Q1. Which agency is responsible for implementing the MSP support for cotton as per the recent CCEA approval?
Answer: (B) Cotton Corporation of India Ltd — The Cotton Corporation of India Ltd (CCI) is the implementing agency for the ₹1,718.56 crore MSP support approved for the 2023-24 cotton season.
Q2. What are the two primary rock layers identified at the Kalinjar Fort National Geo-Heritage Site?
Answer: (B) Bundelkhand Granite and Kaimur Sandstone — The site features Bundelkhand Granite (ancient basement rock) and Kaimur Sandstone (sedimentary layer), aged 2.5 billion and 1.2 billion years respectively.
Q3. Regarding the 'Fare Se Fursat' scheme, which of the following statements is true?
Answer: (C) The scheme ensures airfares do not change based on booking time. — The core feature of the scheme is 'One Route One Fare,' meaning the price is uniform and does not fluctuate with booking time or surge demand.
Q4. Where has Bharat Petroleum Corporation Limited (BPCL) launched India's first LPG ATM?
Answer: (B) Gurugram, Haryana — India's first LPG ATM was launched by BPCL in Gurugram, Haryana, specifically at Central Park Flower Valley, Sohna.
Q5. The 'Krishi Sakhi' initiative by AIC is globally aligned with which international observance?
Answer: (B) UN International Year of the Woman Farmer – 2026 — Krishi Sakhi is linked with the UN's International Year of the Woman Farmer – 2026 to empower women in the agricultural sector.
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