Rs 54,604-crore ECLGS loans for FY22 assured: Finance ministry

0
46



The Finance Ministry on Monday stated Rs 54,604 crore price of loans had been assured underneath the Emergency Credit score Line Assure Scheme (ECLGS) for micro, small, and medium enterprises for FY22 until the tip of February. That is down from Rs 1.57 trillion price of loans assured in 2020-21.


The variety of ensures issued stood at 2.16 million in 2021-22 towards 9.04 million in 2020-21.





ECLGS was launched in Might 2020 as a part of the Aatmanirbhar Bharat initiative by to fight the financial slowdown as a result of Covid-19 pandemic and the nationwide lockdown.


Rs 54,604-crore ECLGS loans for FY22 guaranteed: Finance ministry


In her 2022 Union Price range speech, Sitharaman had stated: “The ECLGS will likely be prolonged as much as March 2023 and its assure cowl will likely be expanded by Rs 50,000 crore to a complete cowl of Rs 5 trillion, with the extra quantity being earmarked completely for the hospitality and associated enterprises.”


The information, tabled by Minister of State for Finance Bhagwat Karad within the Lok Sabha, confirmed that when it comes to the variety of ensures issued, most loans went to micro enterprises in each years (8.3 million and a pair of million, respectively). Nonetheless, when it comes to the quantum of loans assured, most went to small enterprises.


The information additionally confirmed that for the reason that launch of the scheme, the utmost quantity of loans assured had been in Maharashtra (Rs 28,735.67 crore), adopted by Tamil Nadu (Rs 23,237.29 crore), Gujarat (Rs 20,472.31 crore), and Uttar Pradesh (Rs 14,920.18 crore).

Pricey Reader,

Enterprise Commonplace has at all times strived arduous to supply up-to-date info and commentary on developments which can be of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on enhance our providing have solely made our resolve and dedication to those beliefs stronger. Even throughout these troublesome occasions arising out of Covid-19, we proceed to stay dedicated to conserving you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.

We, nonetheless, have a request.

As we battle the financial influence of the pandemic, we want your assist much more, in order that we are able to proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from a lot of you, who’ve subscribed to our on-line content material. Extra subscription to our on-line content material can solely assist us obtain the objectives of providing you even higher and extra related content material. We imagine in free, honest and credible journalism. Your assist via extra subscriptions might help us practise the journalism to which we’re dedicated.

Assist high quality journalism and subscribe to Enterprise Commonplace.

Digital Editor





Supply hyperlink

LEAVE A REPLY

Please enter your comment!
Please enter your name here