Mr. Shachindra Nath, Executive Chairman and Managing Director, U GRO Capital
Hon’ble Finance Minister today announced an encouraging set of measures, targeted towards rapid growth of MSME sector and the economy. The extension of ECLGS scheme by Rs. 50,000 upto March 2023, with a special focus on ailing hospitality sector is crucial to facilitate its faster recovery. The credit support has also been provided in the form of Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) revamp with credit of Rs 2 lakh crore for micro and small enterprises. These initiatives will help financial institutions to mitigate risk and stimulate credit outreach to MSMEs. The Government also announced inter-linking of Udyam, e-SHRAM, NCS & ASEEM portals and providing services such as credit facilitation and entrepreneurial opportunities. This will certainly aid in the MSME sector’s formalization and growth. The Government has time and again shown distinctive support to the country’s MSME sector and encouraged its contribution to the Atmanirbhar Bharat imperative. The outlay of Rs 6,000 crore for programmes to accelerate MSME performance will surely assist in boosting the sector’s resilience and operational efficiency. Overall, the measures announced in Union Budget 2022-23 will unlock rapid recovery and holistic growth of the MSME sector.
