Budget 2022: Big boost for MSMEs as ECGLS benefits extended to March 2023

New Delhi: Finance Minister Nirmala Sitharaman, on February 1, announced the extension of the Emergency Credit Line Guarantee Scheme (ECLGS) till March 2023, in what could be a big boost for the country’s Micro, Small & Medium Enterprises (MSMEs). 

The ECLGS was launched by the Indian government for providing liquidity to the MSMEs during the Covid pandemic by extending its coverage to entities in 26 stressed sectors identified by the Kamath Committee in its report recently with the addition of the health care sector. 

The ECLGS initially had an Rs three lakh crore emergency credit line. The ECLGS was previously extended till March 31, 2021, from its earlier sunset time of November 30. Catch all live Budget Updates here