Resetting the Indian Economy Growth Engine || Self Reliant India Movement (Part 1)
Rebooting the Indian growth engine. As the world battles the human and economic costs of the Corona Virus, the government has promised a mega multipronged stimulus package aimed at addressing challenges in 5 key areas.
Key Announcements for MSME’s
• Definition of MSME redrafted
• Rs 3 lakh crores collateral free Loans for Businesses, including MSMEs. The 4 Year loan offering has an inbuilt 12-month moratorium on principal repayment
• Rs 20,000 crores Subordinate Debt to be partially guaranteed for Stressed MSMEs
• Dedicated Fund of Funds with a corpus of Rs 50,000 Cr to provide much needed equity funding
• Global tenders for government contracts up to Rs 200 Cr to be disallowed
Keep the money flowing
• Rs. 30,000 Cr liquidity scheme through Investment grade debt papers of NBFC, HFC and MFI fully guaranteed by GoI.
• Rs. 45,000 Cr through partial credit guarantee scheme scope expansion. AA rated papers and below including unrated papers will be included under the scheme. First 20% loss to be borne by GoI.