Government measures for MSMEs to rise from the pandemic effect (27/8/2022)
Government measures for MSMEs to rise from the pandemic effect
The MSME sector’s economy was the one that got badly affected by the pandemic as the financials got hit with the operations coming to a complete standstill and no market activity.
Various steps taken by the government for boosting the MSMEs were – ECLGS (collateral-free automatic loans), SRI fund (growth capital to the deserving and eligible units), CGSSD (credit facility to the promoters of stressed MSMEs), etc., as part of the Aatmanirbhar Bharat mission.
The study conducted by SIDBI, for understanding the impact of the pandemic, shows that 65% of MSMEs surveyed had availaed the benefits of the schemes. As a result, 13.5 lakh accounts were saved due to the scheme, out of which 93.7% were in the micro and small category.
