Banks sanctioned loans worth Rs 3.1 lakh cr to small, medium firms under ECLGS, says Sitharaman

The Emergency Credit Line Guarantee Scheme (ECLGS) aims to provide additional funding facilities to the MSME sector which has been hit hard by COVID-19

|Feb 10, 2022, 21:30:48 IST

New Delhi: Finance Minister Nirmala Sitharaman on Thursday said banks have sanctioned loans worth Rs 3.1 lakh crore under the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector that was impacted by disruptions due to the coronavirus pandemic.

The scheme has been extended till March 2023.

"Those MSMEs who still want to benefit out of it are welcome to use it... the amount of loan sanctioned under the ECLGS is Rs 3.1 lakh crore and guarantee space is still Rs 1.4 lakh crore," she said in her 100-minute reply to the discussion on Union Budget 2022-23 in Lok Sabha.

As much as Rs 2.36 lakh crore have been disbursed to MSMEs, she said.

She also said that PM Mudra Yojana has created 1.2 crore additional employment since its launch in 2015.

With regard to employment, she said, urban unemployment has declined to pre-pandemic levels due to various efforts of the government.

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Banks sanctioned loans worth Rs 3.1 lakh cr to small, medium firms under ECLGS, says Sitharaman

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