"Over 1.18 crore MSMEs, other businesses supported under ECLGS during FY21, FY22: Govt"

Credit and Finance for MSMEs: 23 lakh MSMEs and other businesses were supported under the government’s Emergency Credit Line Guarantee Scheme (ECLGS) during the financial year 2021-22, according to the data shared by Union Minister of State for Finance Bhagwat Karad in Lok Sabha on Monday. However, in its first financial year 2020-21, the scheme (launched in May 2020) had 95.41 lakh beneficiaries in terms of loans guaranteed, indicating maximum businesses impacted due to Covid sought support during FY21. Overall, 1,18,41,981 businesses were supported as of March 2022 with fully guaranteed collateral-free loans.

Karnataka was the top beneficiary state with 4.12 lakh businesses supported during FY22 followed by 2.49 lakh businesses from Rajasthan, 2.46 lakh borrowers from Tamil Nadu, and 1.84 lakh from Bihar, and 1.76 lakh from Madhya Pradesh among the top five states, data showed.

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