Finance Minister Nirmala Sitharaman announced a new credit guarantee scheme for MSMEs to support term loans and enhance manufacturing capacity. The scheme, soon to be presented to the Cabinet, will provide collateral-free guarantees for loans up to ₹100 crore. This initiative follows the success of the Emergency Credit Line Guarantee Scheme during the pandemic, aiming to help MSMEs acquire modern equipment. The government also plans to introduce other budget initiatives, such as doubling the collateral-free loan limit for Mudra loans and implementing a credit assessment model. These measures aim to support MSME growth and competitiveness globally.
source
Discover more from GLOBALMALAYALAM.NEWS
Subscribe to get the latest posts sent to your email.
