Monday, September 20, 2021

Boosting the MSME Sector | Several Relief Measures

Micro, Small & Medium Enterprises (MSME) is known as the engine of economic growth and for hpromoting equitable development. Continuous attempts are being undertaken to encourage socio-economic growth and employment opportunities across diverse sectors by developing small scale industries across the country. During the pandemic, the government has announced various relief measures for several sectors under the Aatma Nirbhar Bharat Abhiyan and has taken a number of initiatives to support the MSME sector in the country.

Let’s get to know more about them. Subordinate Debt for MSMEs To help the people in distress, the government launched the Credit Guarantee Scheme for Sub-ordinate Debt or Distressed Assets Fund–Sub-ordinate Debt for MSMEs. Under the Scheme, the guarantee covers worth Rs. 20,000 crores have been provided to the promoters who can take debt from the banks to further invest in their Micro, Small & Medium Enterprises equity. 

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