Lifeline Credit: Government's Rs 18,100 Crore Boost for MSMEs and Airlines Amid West Asia Crisis
The government has announced an Emergency Credit Line Guarantee Scheme worth Rs 18,100 crore to support MSMEs, airlines, and other businesses amid challenges from the West Asia conflict. The scheme aims to provide Rs 2.55 lakh crore credit flow, ensuring operations continue, jobs are protected, and supply chains remain intact.
In a move to alleviate financial stress caused by the ongoing West Asia conflict, the government has launched an Emergency Credit Line Guarantee Scheme (ECLGS) with an allocation of Rs 18,100 crore.
This initiative is designed to assist MSMEs, airlines, and other sectors in accessing credit worth Rs 2.55 lakh crore, enabling them to maintain operations and prevent job losses.
Information and Broadcasting Minister Ashwini Vaishnaw emphasized the scheme's role in sustaining domestic production and supporting businesses in overcoming liquidity challenges.
(With inputs from agencies.)
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