Finance Minister Nirmala Sitharaman announced on Tuesday that the Emergency Credit Line Guarantee Scheme (ECLGS), which provided much-needed supplementary credit to over 1.3 crore MSMEs, will be extended until March 2023, with its guarantee cover increased by Rs 50,000 crore to Rs 5 lakh crore. The increased funds will be used solely to assist the hospitality and related industries in returning to pre-pandemic levels. The Finance Minister said the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) plan will be rebuilt with the necessary infusion of cash when presenting the Budget …
