Union Cabinet to meet Tuesday on major ECLGS expansion
Business
Big policy news: The Union Cabinet is set to meet this Tuesday to talk about a major update to the Emergency Credit Line Guarantee Scheme (ECLGS).
This time, the plan is to expand support beyond just pandemic-affected industries, so more sectors can get easier access to loans.
Revamped ECLGS could provide ₹2.5L/cr guarantees
The revamped scheme could offer up to ₹2.5 lakh crore in credit guarantees and might include special limits for different sectors, making sure funds are shared fairly.
With global trade and energy markets facing fresh risks, especially from tensions in West Asia, the government wants businesses across the board to have a safety net.
Final details may be decided at the Cabinet meeting.