He said the government's decision to provide Rs 3 lakh crore collateral-free automatic loans to businesses, including MSMEs, will surely help them to meet their operational liabilities, built up due to COVID-19 and resume their business.
The Home Minister stressed that the government will facilitate the provision of Rs 20,000 crore as subordinate debt, which will benefit more than 2 lakh MSMEs.
"Modi government to facilitate equity infusion worth Rs 50,000 crore for the MSMEs through Fund of Funds. This will help them expand their size as well as capacity and encourage them to get listed, raise public money through stock exchanges," he said.
Highlighting the EPF support announced by the Centre, he said: " Rs 2500 crore EPF support for business and workers for three more months will help about 3.67 lakh units and 72.22 lakh employees."
He lauded the move for infusing liquidity of Rs 90,000 crore in DISCOMs, providing Rs 45,000 crore partial credit guarantee scheme 2.0 for NBFCs and Rs 50,000 crore liquidity through TDS/TCS rate reduction.
He added that the Centre will also launch a Rs 30,000 crore special liquidity scheme to help NBFCs/ HFCs/MFIs/ NBFCs/HFCs/MFIs as they are finding it difficult to raise money in debt markets.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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