Cabinet boosts corpus for small enterprises

Cabinet boosts corpus for small enterprises

  • Union Cabinet gave ex-post facto approval for a larger package supporting small and medium enterprises — a promise made by Prime Minister Narendra Modi in his New Year’s eve address to the nation.
  • The Corpus of Credit Guarantee Trust Fund for Micro and Small Enterprises will increase from Rs.2,500 crore to Rs.7,500 crore.
  • The Centre has increased the coverage of loans covered under the credit guarantee scheme to Rs.2 crore from Rs.1 crore.

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