Small businesses get a 'lifeline' as the government extends credit support and boosts metro access.
Executive Brief • Key Highlights
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- ✓The Union Cabinet approved extending the Credit Guarantee Fund for Micro Units and Stand-Up India schemes until 2031.
- ✓Ashwini Vaishnaw said, "Several changes have been made, such as reducing the guarantee fee to lower costs." Additionally, the 8.5 kilometre Aqua Line metro rail corridor extension from Noida also got approval.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Economic Times
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
The Union Cabinet has extended the Credit Guarantee Fund for Micro Units and Stand-Up India schemes by five years until 2031, approving a corpus of Rs 5,000 crore and Rs 4,111 crore, respectively. The extensions are expected to facilitate Rs 12.6 lakh crore in Mudra loans and support at least 2.5 lakh additional women, SC and ST entrepreneurs.
The union cabinet approved extending the Credit Guarantee Fund for Micro Units, and Stand-Up India scheme for five years till 2031. An 8.5 kilometre extension of Aqua Line Metro Rail Corridor from Noida Sector-51 to Greater Noida Sector-04 also got the nod.
Announcing the decisions, union Information Broadcasting minister Ashwini Vaishnaw said the cabinet approved a Rs 5,000 crore corpus for the micro units fund and a Rs 4,111 crore credit guarantee corpus for Stand-Up India.
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Economic Times
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