New Delhi: Due to the nationwide lockdown, the Micro, Small and Medium Enterprises businesses (MSME sector), which have given the economy of the country, are stalled. Due to this, production has stopped on a large scale, the employment of lakhs of people has been lost in the last one month. Now the central government is planning on a large scale to make this sector stand again.

Under this, the government will provide loans to the industries of micro, small and medium category through banks. To enable these industries to get loans, the government is ready to give loan guarantee to banks. According to a government report, the MSME sector accounts for 48.10 percent of India's exports. 11.10 crore people have got employment in this sector, but the health of this sector has been adversely affected due to the lockdown.

According to data released recently from the Center for Monitoring Indian Economy (CMIE), 14 crore workers have had to lose their jobs. In the current economic scenario, only the MSME sector can give a boost to India's economy. To meet the shortage of capital in this sector, the government is considering a plan to give loans from banks to industry businesses falling in this category. The government is working on a proposal, under which it will give a guarantee of 3 lakh crore loans to the MSME sector itself.

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