The Government has taken a number of recent initiatives under the atmanirbhar bharat Abhiyan to mitigate the negative impact of Covid-19 on small businesses including revival of demand for products and services in the country. Some of them are:
i. Credit Guarantee Scheme Subordinate Debt (CGSSD)for stressed MSMEs. As on 19.07.2022, Rs. 90.47 Crore has been extended to 782 accounts under CGSSD.
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ii. Guaranteed Emergency Credit Line (GECL) / Emergency Credit Line Guarantee Scheme (ECLGS) for Businesses, including MSMEs. As on 30.06.2022, around 1.19 crore businesses (including 1.13 crore MSMEs) have been provided collateral free loans amounting to Rs.3.48 lakh crore (Rs.2.32 lakh crore to MSMEs) under ECLGS scheme.
iii. Equity infusion through Self-Reliant India (SRI)Fund. SRI Fund has been operationalised, daughter funds are being empanelled and through them MSMEs are benefitting.
iv. New revised criteria of classification of MSMEs.
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v. New registration of MSMEs through ‘Udyam Registration’ for Ease of Doing Business. As many 98,00,560 MSMEs with an employment of 7.46 crore have registered on the Udyam Portal.
vi. No global tenders for procurement up to Rs. 200 crores, under atmanirbhar bharat package.