Budget 2022: ECLGS scheme will be extended for one more year: Nirmala Sitharaman

Budget 2022: While presenting the Union Budget 2022-23, Finance Minister Nirmala Sitharaman said that MSMEs are yet to reach pre-pandemic levels so ECLGS will be extended for one more year.

 

Emergency Credit Line Guarantee Scheme (ECLGS) will be extended up to March 2023, the guaranteed cover will be expanded by Rs 50,000 crores to total cover of Rs 5 lakh crores: FM Nirmala Sitharaman 

ECLGS  will be extended till March 2023 for hospitality and related sector, ECLGS Scheme to be extended up to March 2023; a cover worth Rs5 lakh crore to be earmarked, FM said. "ECLGS scheme to be extended till March 2023 and guarantee cover expanded by Rs 50,000 to Rs 5 lakh cr: FM

 

 

"MSMEs such as Udyam,e-shram, NCS & Aseem portals will be interlinked,their scope will be widened... They will now perform as portals with live organic databases providing G-C, B-C & B-B services such as credit facilitation,enhancing entrepreneurial opportunities": FM Nirmala Sitharaman said. 

 

Finance Minister Nirmala Sitharaman on Tuesday said the country's economic growth is expected at 9.2 per cent in the current financial year, on the back of a sharp rebound in the economy.

 

She also said virtuous cycle of investment is expected to revive on account of capex (capital expenditure) and crowd in private investment. Government focus since 2014 is on poor and marginalised. The government strives to provide necessary ecosystem to middle class," Sitharaman said in her Budget speech 2022-23.