From 2ndJuly, 2021, the Government had included Retail and Wholesale Trades as MSMEs. They are allowed to register on Udyam Registration Portal to avail the benefits of Priority Sector Lending. As on 30.7.2024, 2,19,38,707 Traders are registered on Udyam Registration Portal that also includes Traders registered on UAP Portal.
The Government had taken a number of initiatives under Aatma Nirbhar Bharat Abhiyan to support the MSME sector in the country, especially in Covid-19 pandemic. Some of them are:
- Rs. 20,000 crore Subordinate Debt for MSMEs.
- Rs.3 lakh crores Collateral free Automatic Loans for business, including MSMEs.
- Rs. 50,000 crore equity infusion through MSME Self-Reliant India Fund
- Revised criteria of classification of MSMEs.
- New Registration of MSMEs through ‘Udyam Registration’ for Ease of Doing Business.
- No global tenders for procurement up to Rs. 200 crores.
The Emergency Credit Line Guarantee Scheme (ECLGS) was announced as a part of the Aatma Nirbhar Bharat Package 2020 with the objective to help businesses including MSMEs to meet their operational liabilities and resume businesses in the view of the distress caused by the COVID-19 crises.
State Bank of India’s research report dated 23.01.2023 on Emergency Credit Line Guarantee Scheme (ECLGS) indicates that almost 14.6 lakh MSME accounts, of which about 93.8% of the accounts were in MSE categories, were saved due to ECLGS.
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