Govt announces collateral free loan worth 3 lakh crore rupees benefiting 45 lakh MSMEs

Government  has announced the first tranche of stimulus
packages, under the Atma-Nirbhar Bharat Yojana. Prime Minister Narendra Modi
had on Tuesday made a clarion call of making India self-reliant and had
announced the Atma-Nirbhar  Bharat
Yojana.

 Addressing mediapersons yesterday, Finance
Minister Nirmala Sitharaman gave details regarding these financial packages
equaling to 10 per cent of the national GDP and amounting to 20 lakh crore
rupees. She said the financial stimulus will cater to various sections of the
society including MSMEs, labourers, middle class and Industries. 

Ms.
Sitharaman announced 15 special financial packages of 6 lakh 40 thousand
crore  rupees benefitting a wide array of
sectors including MSMEs, Discoms, Real Estate, Middle Class, Tax Payers and
others. In a historical decision, the ambit of Micro, Small and Medium
Enterprises (MSMEs) have been widened resulting in inclusion of many small and
micro industries under this sector. This decision of changing the definition of
MSMEs will increase competition and productivity in the sector. In a major
boost to the MSME sector, collateral free loan of 3 lakh crore rupees has been
announced with a moratorium of 12 months.

These loans
will benefit 45 lakh small and medium units. Another package of 20 thousand
crore rupees for stressed MSMEs benefitting 2 lakh units have also been
announced. Finance Minister informed that 50 thousand crore rupees will be
infused in the MSMEs through the equity channel.

 Opening up avenues for indigenous companies,
Ms. Sitharaman said that tenders for Government procurement up to 200 crore
rupees will no longer be through Global Tender route. e-Market linkage for
MSMEs has been announced to ensure wider reach for sale of products from the
small and medium industries. Government bodies and PSUs have been directed to
clear all pending dues of MSMEs within next 45 days.