Saturday, May 30, 2020

FM announces major booster to MSMEs to revive economy, protect jobs

The government on Wednesday unveiled a major booster dose entailing a series of initiatives for micro, small and medium enterprises, including Rs 3 lakh crore worth of collateral-free automatic loans for businesses.

NEW DELHI: The government on Wednesday unveiled a major booster dose entailing a series of initiatives for micro, small and medium enterprises, including Rs 3 lakh crore worth of collateral-free automatic loans for businesses.

A subordinate debt of Rs 20,000 crore for stressed units, a Fund of Funds for equity infusion of Rs 50,000 crore, and revision in the definition of MSMEs are among the steps announced by the government to help MSMEs recover from disruptions caused by the coronavirus-related lockdown.

SourceNews24
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