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The central government has formed a committee headed by Rajnath Singh for the implementation of Emergency Credit Line Guarantee Scheme (ECLGS) for MSME. What is the amount that was allocated under ECLGS scheme by GoI?
  • a)
    1 Lakh crore
  • b)
    10 Lakh crore
  • c)
    5 Lakh crore
  • d)
    50,000 crore
  • e)
    3 Lakh crore
Correct answer is option 'E'. Can you explain this answer?
Verified Answer
The central government has formed a committee headed by Rajnath Singh ...
Prime Minister Narendra Modi appointed a committee headed by Rajnath Singh to solve the difficulties faced in the implementation of Rs.3 Lakh crore collateral-free loan for Micro, Small & Medium Enterprises(MSME) under Emergency Credit Line Guarantee Scheme (ECLGS) scheme announced by Finance Minister Nirmala Sitharaman on 13th May 2020 as a part of Rs.20 Lakh crore Covid-19 aid to raise the economy. Under the Scheme, 100% guarantee coverage to be provided by National Credit Guarantee Trustee Company Limited (NCGTC) for additional funding of up to Rs. 3 lakh crore to eligible MSMEs and interested MUDRA. borrowers, in the form of a Guaranteed Emergency Credit Line (GECL) facility.
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The central government has formed a committee headed by Rajnath Singh for the implementation of Emergency Credit Line Guarantee Scheme (ECLGS) for MSME. What is the amount that was allocated under ECLGS scheme by GoI?a)1 Lakh croreb)10 Lakh crorec)5 Lakh crored)50,000 croree)3 Lakh croreCorrect answer is option 'E'. Can you explain this answer?
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