Under the Emergency Credit Line Guarantee Scheme (ECLGS), over 2.16 lakh MSMEs in Punjab have been given 100 percent guaranteed collateral-free loans amounting to Rs 10,370 crore till March 18, 2022. Likewise, about 81 guarantees amounting to Rs 8.26 crore have been sanctioned under the Credit Guarantee Scheme of Subordinate Debt for the stressed micro, small and medium enterprises in Punjab till March 14 this year.
Bhanu Pratap Singh Verma, union minister of state for MSMEs had said this in Lok Sabha during the ongoing session. Further, he added that the central government has announced the ‘Self Reliant India Fund’ to scale up MSMEs and channelize funds for their growth capital in the form of equity.
While presenting the Union Budget 2022-23, Nirmala Sitharaman, Minister of Finance of India made an announcement of extending the Emergency Credit Line Guarantee Scheme up to March 2023 and its total guarantee cover is also extended to Rs 5 lakh crore.
