Budget 2022 : MSME Sector – UPSC GS3

MSME sector:
  • The Emergency Credit Line Guarantee Scheme (ECLGS) working towards providing much-needed credit to more than 130 lakh MSMEs to help them mitigate the adverse impact of the pandemic will be extended up to March 2023. The Guarantee cover on ECLGS will be extended to a total cover of Rs 5 lakh crore, with the additional amount of around 50,000 Crore being earmarked exclusively for the hospitality and related enterprises.
  • The Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) scheme will have more infusion of funds. This will facilitate additional credit of Rs 2 lakh crore for Micro and Small Enterprises.
  • Raising and Accelerating MSME Performance (RAMP) programme with an outlay of Rs 6,000 crore over 5 years will be rolled out to make the MSME sector more resilient, competitive and efficient.
  • Udyam, e-Shram, NCS and ASEEM portals will be interlinked and their scope will be widened.

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