'The hospitality and MSME segments are yet to reach the pre-pandemic level of business,' Finance Minister Nirmala Sitharaman said in her Union Budget speech.
Finance minister Nirmala Sitharaman on Tuesday said that we have controlled the inflation better than the previous government and never let it touch the double digit.
The extension of the Emergency Credit Line Guarantee Scheme could help the hospitality and related services, that are yet to regain their pre-pandemic level of business.
Of the 13.5 lakh MSME accounts that are saved, almost 93.7% are in micro and small category, 48% belong to the micro category and nearly 46% are the small borrowers.
The SBI Research report claimed that MSME loan accounts worth Rs 1.8 lakh crore were saved from slipping into NPA during the period.
First tranche yet to be used; 1.5 L cr added to emergency loan guarantee scheme in June
Finance Ministry in May expanded the scope of the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme by including concessional loans to hospitals for setting up on-site oxygen generation plants.
The share of these industries makes up for 80.5% in the total outstanding credit to industry.