On May 12, 2020 the Indian Prime Minister announced a special
economic relief package to revive the Indian economy in light of
the COVID-19 outbreak. The package was divided into five
'tranches', with details announced by the Finance
Minister between May 13, 2020 to May 17 2020. Press releases on the
relief package can be accessed here.
Below are some key reliefs announced as part of the package.
1. Micro, Medium and Small Enterprises ("MSMEs")
i. Collateral free term loans will be provided to finance the
working capital needs of businesses.
a) Loans of upto 20% of the outstanding credit of businesses as
of February 29, 2020.
b) Amounts will be guaranteed by Government of India.
