Budget 2022: ECLGS scheme extended till March 2023 for MSMEs; guarantee limit enhanced to Rs 5 lakh cr : Rashtra News
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Credit and Finance for MSMEs: ECLGS has provided the much-needed additional credit to more than 130 lakh MSMEs. This has helped them mitigate the worst impact of the pandemic,” said Finance Minister Nirmala Sitharaman.
Credit and Finance for MSMEs: The Emergency Credit Line Guarantee Scheme (ECLGS) for MSMEs has been extended till March 2023 along with an enhanced guarantee cover by Rs 50,000 crore to take the total limit of the scheme to Rs 5 lakh crore from Rs 4.5 lakh earlier, Finance Minister Nirmala Sitharaman announced in the budget 2022 on Tuesday.
“ECLGS has provided the much-needed additional credit to more than 130 lakh MSMEs. This has helped them mitigate the worst impact of the pandemic. The hospitality and related services especially those by micro and small enterprises are yet to regain their pre-pandemic level of business. Considering these aspects, ECLGS will be extended up to March 2023 and its guarantee cover will be expanded by Rs 50,000 crore to the total cover of Rs 5 lakh crore,” Sitharaman said.
To be updated…
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( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a www.financialexpress.com feed.)
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