Finance Minister Smt. Nirmala Sitharaman has proposed increasing the Credit Guarantee cover from 5 crore to 10 crore rupees for Micro and Small Enterprises. This is being done to improve the access to credit and push for growth. This will lead to additional credit of Rs. 1.5 lakh crores in the next financial year.
The cover will also be enhanced for startups from Rs. 10 crores to Rs. 20 crores with the guarantee fee being moderated to 1% for loans in 27 focus sectors important for Atmanirbhar Bharat. For well-run exporter MSMEs the credit will be enhanced upto Rs. 20 crores.
With inputs from agencies
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