"Cabinet approves enhancement in ECLGS corpus for MSMEs in hospitality, related sectors"

The hospitality and related sectors- worst hit during Covid pandemic, have been extended further relief with Cabinet clearing infusion of Rs50,000 crore in ongoing Emergency Credit Line Guarantee Scheme (ECLGS).

The Union Cabinet, chaired by the Prime Minister Narendra Modi has approved the enhancement in the limit of ECLGS scheme from Rs4.5 Lakh crore to Rs5 Lakh crore. The additional amount of Rs50,000 crore is earmarked exclusively for enterprises in hospitality and related sectors till validity of the scheme which is 31.3.2023.

Restaurants had been hit severely with prolonged lockdowns and later Covid restrictions.

Read more at Knowledge & News Network (KNN)