"MSMEs: Measures Govt Taken To Lift Them From Pandemic Effect; Know Details"
Even as the coronavirus pandemic had hit the economy across sectors, MSMEs (micro, small and medium enterprises) were also got affected badly. Their financials were hit and their operations almost came to standstill having no activity, barring very few ones. The government has since then taken various steps to boost MSMEs.
As part of the Aatmanirbhar Bharat Package for MSMEs, the Centre had announced measures, including the Emergency Credit Line Guarantee Scheme (ECLGS), Self Reliant India (SRI) Fund and Credit Guarantee Scheme for Subordinate Debt (CGSSD).ECLGS was announced as a part of the Aatmanirbhar Bharat package in May 2020 to provide collateral-free automatic loans for businesses, including MSMEs. Initially, the admissible limit of the guarantee was Rs 3 lakh crore, which was later enhanced to Rs 4.5 lakh crore.