Banks sanction loans worth Rs 3.1 lakh crore to MSMEs under ECLGS: FM Sitharaman

Finance Minister Nirmala Sitharaman said banks have sanctioned loans worth Rs 3.1 lakh crore under the Emergency Credit Line Guarantee Scheme.

Image Source: ANI

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 wants 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. Also Read: Command, control centres of 100 smart cities will be operational by Aug 2022: Centre

With regard to employment, she said, urban unemployment has declined to pre-pandemic levels due to various efforts of the government. Also Read: ShareChat, MX Media merge Moj, MX TakaTak short video apps in mega deal