Lifeline for MSMEs and Airlines: Government Unveils Rs 18,100 Crore Scheme
The government announced the Emergency Credit Line Guarantee Scheme to support MSMEs and airlines affected by the West Asia conflict. With an outlay of Rs 18,100 crore, the scheme aims to facilitate additional credit of Rs 2.55 lakh crore, ensuring business continuity, job protection, and supply chain sustainability.
On Tuesday, the government introduced the Emergency Credit Line Guarantee Scheme (ECLGS) with a financial outlay of Rs 18,100 crore. This initiative targets providing relief to MSMEs and airlines adversely affected by the conflict in West Asia.
The Union Cabinet's approval paves the way for an expected additional credit flow of Rs 2.55 lakh crore, including Rs 5,000 crore specifically for airlines. Information and Broadcasting Minister Ashwini Vaishnaw communicated the serious intent behind ECLGS 5.0 aimed at alleviating stress in impacted sectors.
By ensuring timely liquidity, the scheme promises to sustain operations, protect employment, and maintain supply chain integrity. The credit guarantee coverage is set at 100 per cent for MSMEs and 90 per cent for non-MSMEs and airlines, facilitating business resilience amid prevailing geopolitical tensions.
(With inputs from agencies.)
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- supply chain
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