The Union Budget for 2022-23 has announced several measures for the micro, small and medium enterprises (MSMEs) sector that included extension of Emergency Credit Line Guarantee Scheme (ECLGS) till March 2023.
Union Finance Minister Nirmala Sitharaman, while tabling the Union Budget 2022-23 on Tuesday, said the ECLGS had provided much-needed additional credit to more than 130 lakh MSMEs. This helped them mitigate the adverse impact of the COVID-19. The hospitality and related services, especially those by micro and small enterprises, were yet to regain their pre-pandemic level of business.
