Emergency Credit Line Guarantee Scheme

The world economy is grappled with adverse outcomes of the Corona pandemic and the Indian economy is not an exception to it. Indian economy is reeling under huge distress, firstly due to demonetization, then poor implementation of the GST reforms followed by the prolonged economic slowdown and now the blow of COVID-19 which is going to intensify the crisis across all sectors of the economy. Due to their size and limited financial resources, MSMEs will face the brunt of the present crisis the most. The significant contribution of MSMEs to India's GDP makes them the backbone of the Indian economy. But currently, MSMEs are going through a tough time, thus, immediate attention is called for.