Lok Sabha Updated on Atmanirbhar Bharat Package Supporting MSMEs

Over Rs. 75,000 crores paid to MSME vendors by Government Ministries/Depts/CPSUs between June and October, 2021, informed Pankaj Chaudhary at Lok Sabha.

SMEStreet Edit Desk
New Update
Atmanirbhar Bharat Package, Pankaj Chaudhary, Finance Ministry,

The Atmanirbhar Bharat Package aims to strengthen the Indian economy and increase its competitiveness in the global market with the underlying objective of self-reliance by fulfilling its unique objective of providing financial cushion to Micro, Small and Medium Enterprises (MSMEs) by providing them collateral-free loans and encouraging entrepreneurs to produce maximum goods and services within the country. This was stated by Union Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in Lok Sabha.

The Minister stated that dues of Rs. 75,471.78 crore have been paid to the MSME vendors by Government Ministries/Depts/CPSUs between 1st June 2020 and 31st October 2021.

Giving more details, the Minister stated that the following schemes have been announced under Atmanirbhar Bharat Package to provide support for the growth of MSME sector: -

  1. An Emergency Credit Line Guarantee Scheme (ECLGS) was announced in May,2020. ECLGS 2.0, ECLGS 3.0. & ECLGS 4.0. were announced on 26.11.2020, 31.03.2021 & 31.5.2021 respectively to enlarge its scope and to make it more attractive. Validity of the Scheme extended up to 31.03.2022 or till guarantees for an amount of Rs.4.5 lakh crore are issued, whichever is earlier. A Statement indicating State-wise beneficiaries of the scheme is at ANNEXURE-I.
  2. A Rs 20,000 crores Credit Guarantee Scheme for Subordinate Debt (CGSSD) for Stressed MSMEs launched on 01.06.2020. State-wise Guarantee coverage as on 02.12.2021 under CGSSD is at ANNEXURE-II.
  3. Self-reliant India Fund for equity infusion of Rs 50,000 cr. in MSMES through Fund of Funds (FoF> announced with a Corpus of Rs. 10,000 crores with remaining Rs. 40,000 crore leveraged through Private Equity/Venture Capital Funds.
  4. Definition of MSMEs revised on the basis of investment limit and turnover size.
  5. Amendment of Rule 161(iv) of General Financial Rules (GFRs 2017) to disallow Global Tender Enquiry for tenders upto Rs.200 crores with certain conditions.
  6. Other interventions viz. launching of a new portal of KVIC (www.ekhadiindia.com), upgrading the existing running portal of NSIC, adding a new component for virtual trade fair under Procurement & Marketing Support (PMS) scheme to promote e-marketing, launching the online portal ‘Champions’ covering many aspects of e- governance and e-promotion of MSMEs, linking of Udyam Registration Portal with GeM Portal, a special sub-portal within SAMADHAAN portal and an online reporting system was developed for reporting the dues and monthly payments by GOI Ministries and CPSEs to the MSMEs.

The implementation of the Schemes/Programmes introduced by the Government are reviewed from time to time, the Minister added.

Top News MSMEs Pankaj Chaudhary Credit Guarantee Scheme for Subordinate Debt CGSSD Atmanirbhar Bharat Package