Total ECLGS cover will be of Rs 5 lakh crore

ECLGS expanded by RS 50K Cr; Extended up to March 2023

The Emergency Credit Line Guarantee Scheme (ECLGS) will be extended up to March 2023 and its guarantee cover will be expanded by Rs. 50,000 crore. The total cover will now be Rs. 5 lakh crore announced the Union Government.

The Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) Scheme will be revamped with required infusion of funds. This will facilitate additional credit of Rs.  2 lakh crore for Micro and Small Enterprises and expand employment opportunities, the Finance Minister stated. 

The Finance Minister announced the rolling out of Raising and Accelerating MSME Performance (RAMP) programme with outlay of Rs. 6,000 crore over 5 years. This will help the MSME sector become more resilient, competitive and efficient.  

The Finance Minister also proposed that Udyam, e-Shram, NCS and ASEEM portals will be interlinked. Their scope will be widened. They will now perform as portals with live, organic databases, providing G2C, B2C and B2B services. These services will relate to credit facilitation, skilling, and recruitment with an aim to further formalize the economy and enhance entrepreneurial opportunities for all.





 

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