Govt Decisions to Have Transformative Impact on MSMEs, Farmers: PM
With the coronavirus lockdown dealing a severe blow to the economy, Union Ministers Prakash Javadekar, Narendra Singh Tomar and Nitin Gadkari on Monday announced a string of measures for the MSME sector as well as the agriculture sector. The government has further changed the definition of MSMEs, from the changes announced in the Atmanirbhar package," Javadekar was quoted as saying at the briefing, adding that the Cabinet has approved Rs 20,000 crore subordinate debt for stressed MSMEs, which will benefit 2 lakh such enterprises. The turnover limit for medium enterprises has also been further amended to Rs 250 crore, while the investment limit has been raised to Rs 50 crore, Javadekar announced. A Rs 20,000 crore package for distressed MSMEs and a Rs 50,000 crore equity infusion through Fund of Funds.”
RBI's Rs 16,000-Cr Gift to MSMEs; Loans of Up to Rs 50 Cr Can Be Restructured
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