Over Rs 2.46 lakh crore sanctioned under Emergency Credit Line Guarantee scheme: Centre

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New Delhi: The cumulative sanctioned and disbursed amounts under the Emergency Credit Line Guarantee Scheme (ECLGS) to MSMEs stood at Rs 2.46 lakh crore and Rs 1.81 lakh crore, respectively, as on February 28, according to the government.

In a written reply to Lok Sabha, MSME Minister Nitin Gadkari said that under the Credit Guarantee Scheme for Subordinate Debt (CGSSD), 343 number guarantees have been issued amounting to Rs 40.56 crore as on March 10.

“As per the data furnished by National Credit Guarantee Trustee Company Ltd (NCTGC), which is the implementing agency of ECLGS, as of February 28, 2021, the cumulative sanctioned and the disbursed amount under the scheme is Rs 2.46 lakh crore and Rs 1.81 lakh crore, respectively,” the minister said.

He also said the ministry has been running various schemes to provide credit facilities to the MSME sectors such as an interest subvention scheme for incremental credit which offers a 2% interest subsidy, Credit Guarantee Scheme for micro and small enterprises (MSEs) for collateral-free / third-party guarantee-free loans.

Replying to a separate question, he said as on March 15 this fiscal, the public procurement from the MSEs is to the extent of Rs 31,292.09 crore, benefitting 1,35,580 units.