Nirmala Sitharaman backs Indian businesses amid global shocks in Daman
Business
Finance Minister Nirmala Sitharaman says the government has Indian businesses' backs as global issues like US tariffs and the West Asia conflict shake things up.
Speaking in Daman, she highlighted support tools like collateral-free Mudra loans and the Emergency Credit Line Guarantee Scheme (ECLGS) to help small businesses stay steady.
ECLGS 5.0 allocates 255,000cr working capital
The latest update, ECLGS 5.0, approved just this week, sets aside 2.55 trillion rupees in working capital for affected companies, with 50 billion rupees specifically for airlines.
MSMEs get a full credit guarantee under this scheme, while non-MSMEs and airlines get 90%.
Plus, the government is keeping a close eye on LPG supplies to avoid disruptions from rising costs and ongoing conflicts abroad.