Finance Minister Nirmala Sitharaman has announced a ₹ 3 lakh Crore collateral free loan for MSMEs and has disclosed that 45 lakh MSMEs would benefit from this loan.
FM Nirmala Sitharaman was addressing a press conference to share details of Rs 20 lakh crore package announced by Prime Minister Narendra Modi on Tuesday to tackle the impact of coronavirus on the economy. She has announced a ₹ 20000 Crore debt management fund for stressed MSMEs and this with NPAs and ₹ 50000 Crore equity infusion in MSMEs for growth. Sitharaman has further said that the definition of MSME changed to provide benefits
She has announced that there is no global tenders for upto ₹ 200 Cr to shield local firms from unfair global competition.She has informed that government has decided to give relief for government contractors and has given upto 6 month extension to complete projects
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