MSME employees’ salaries could be paid From State insurance fund: Sources

Mangalore Today News Network

New Delhi, May 13, 2020: The government is considering a proposal to guarantee as much as 3 lakh crore of loans to small businesses as part of a plan to restart the economy battered by the coronavirus and a 50-day lockdown, sources said on Wednesday as to NDTV reported.

 

 

The possible move emerged a day after PM Modi announced Rs 20 lakh crore equivalent to 10 per cent of India’s GDP in fiscal and monetary measures.

The government is also believed to be considering a one-year moratorium on loan repayment for MSMEs or Micro, Small and Medium Enterprises.

Every registered MSME may be eligible for 20 per cent extra loan, sources say.

Confirmed details will be available only when Finance Minister Nirmala Sitharaman addresses the media at 4 pm today.