Indian government plans ₹2.5L/cr credit guarantee for MSMEs and airlines
Business
The Indian government is looking to roll out a huge ₹2.5 lakh crore credit guarantee scheme to help MSMEs and airlines struggling with the fallout from the ongoing West Asia conflict.
The plan, awaiting Cabinet approval, is all about keeping cash flowing and helping these sectors handle rising costs and supply disruptions.
ECLGS expansion targets aviation, small businesses
This new scheme is likely to be structured as an expanded version of the Emergency Credit Line Guarantee Scheme (ECLGS) that helped businesses during COVID-19.
With green light from the Finance Ministry's Expenditure Finance Committee, the focus is to stop financial stress from turning into defaults, especially for aviation and small businesses that keep the economy moving when things get tough globally.