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- 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.
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- 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.
- This will help the revival of the hospitality and related travel services sector as they have been the worst hit with COVID 19 and also they face the most uncertainties of the next wave.
- This move will give necessary stimulus for businesses to not shut down during these difficult times.
Emergency Credit Line Guarantee Scheme
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Source: IE
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