AIAI seeks extension of ECLGS / CGTMSE Support to MSME.
March 16, 2023

AIAI seeks extension of ECLGS / CGTMSE Support to MSME.

AIAI believes the Credit Guarantee Fund Trust for Micro Small Enterprises (CGTMSE) schemes government gave valuable support to the MSME Sector. These schemes have given continuity to this sector by filling up the gap between the period of sanctioning and disbursement by Banks. This is a welcome step.
Dr. Vijay Kalantry says these schemes have benefited the MSME  on delayed sanctions as well. However, he is concerned over the expiry of this scheme by 31 st March 2023. This should be extended.

Dr. Kalantri earnestly appeals to the Hon’ble Minister of Finance, Smt. Nirmala Sitaraman that these schemes may kindly be extended to further 2 years at the minimum as well make additional allocations to these schemes.

AIAI hopes the government comes to the rescue of the MSME industry which is slowly recovering from the Pandemic impact. At this point in time, any disruption would cause serious financial crisis to this industry. AIAI expects the government to consider the appeal.