Government open to extra tweaks in RsThree lakh cr credit score scheme: Finance Minister

New Delhi, August 25

Finance Minister Nirmala Sitharaman on Tuesday stated 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 business physique CII, with which the minister had a closed-door assembly, she stated 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 stated 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 akin to docs, attorneys and chartered accountants for enterprise functions beneath its ambit, aside from MSMEs.

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

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