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Lack Of Updated MSME Data Hampering Timely Funds Disbursal
Though government runs a host of schemes to support micro small and medium enterprises (MSMEs), which have faced the maximum brunt of the Coronavirus-induced lockdown in 2020, providing them timely and adequate funds becomes a roadblock, a fact which has been acknowledged even by the Finance Ministry.
Funds are provided to MSMEs by the ministry under various centrally-backed schemes like the credit guarantee scheme, MUDRA scheme and collateral-free loan scheme for street vendors among many others. However there have been problems of timely financial assistance not reaching these small sector units, which defeats the very purpose for which these scheme were formulated.