PM Modi has indicated to implement Lockdown 4 in India. This step may slow down the economy. On the same, on Wednesday, Finance Minister Nirmala Sitharaman said that the government will give a loan of three lakh crore rupees to micro, small and medium industries (MSME) sector without any guarantee. She said that this is a collateral-free loan guarantee scheme. Will take 6 steps for MSMEs. The Finance Minister said about the economic package of 20 lakh crore rupees, that this package has been prepared after talks with all the parties. Sitharaman said that industry was taken care of in the package. She said that this package was necessary to accelerate growth. She said that MSME will be given a loan for 4 years. Sitharaman said that in the first one year there will be no need to return the principal to MSME companies.
In his statement, the finance minister announced several points
1. 3 lakh crores will be given loans without guarantee for MSME
2. 45 million MSME will benefit from collateral free loan
3.MSME will be given loan for 4 years
Loans up to 4.25 crore will benefit 100 crore turnover
Moratorium 12 months in 5.4 years loan
20 crores out of 6.3 lakh crores for NBFC
50000 crore fund of funds to be created for MSMEs
7. Funds of Funds will be made of 50 thousand crores for MSMEs
Definition of MSMEs will change
In her statement, she said that 5kg of rice/grain was distributed to 80 crore poor. 8 crore has been given three months free cylinder to the beneficiaries of Ujjwala scheme. The announcements made under the Garib Kalyan Yojana are being met.
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