Government open to extra tweaks in Rs Three lakh-crore credit score scheme: Finance Minister


New Delhi, August 25

Finance Minister Nirmala Sitharaman on Tuesday mentioned the federal government is open to additional tweaking the Rs Three lakh crore credit score assure scheme for offering collateral-free loans to small companies.

According to trade physique CII, with which the minister had a closed-door assembly, she mentioned home income technology is a priority as sectors like tourism, actual property, hospitality, and airways have been affected “disproportionately” by the Covid pandemic.

In a gathering with the members of CII, Sitharaman mentioned structural reform is a key precedence for the federal government and it’ll transfer quick on the Cabinet-cleared disinvestment proposals, together with that of banks.

“The (Rs) 3 lakh crore scheme is open for professionals now and Government is open to more tweaking, changes if required,” CII tweeted Sitharaman as saying.

Earlier this month, the federal government had widened the scope of the Rs 3-lakh crore credit score assure scheme by doubling the higher ceiling of loans excellent to Rs 50 crore and together with sure particular person loans given to professionals similar to docs, attorneys and chartered accountants for enterprise functions underneath its ambit, aside from MSMEs.

Till August 20, banks have disbursed greater than Rs 1 lakh crore loans underneath the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS), which was introduced as a part of the Aatmanirbhar Bharat bundle. — PTI



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