- Financial Express
4.5 lakh MSMEs in UP took advantage of ECLGS during Covid: State MSME min Sidharth Nath Singh
Credit and Finance for MSMEs: UP was ranked second in the Ease of Doing Business annual rankings released in September last year. Moreover, it secured sixth position in Logistics Ease Across Different States (LEADS) ranking this year from 13th rank in 2019.
Credit and Finance for MSMEs: Around 4.5 lakh micro, small and medium enterprise (MSME) units in India’s most populous state of Uttar Pradesh have raised credit so far through the central government’s Emergency Credit Line Guarantee Scheme (ECLGS) launched last year post Covid, said state’s MSME Minister Sidharth Nath Singh on Thursday. Speaking on Day 1 of Financial Express Online’s inaugural SME Artha event, Singh said “Approximately 4.5 lakh units in UP took advantage of emergency credit guarantee scheme and were able to revive their units. It helped them recover from the working capital or credit squeeze they had.”