Economy News


Date Heading Details
30-Jul-2021   13:46 Hrs IST COVID-19 temporarily affected various sectors including MSMEs <P align=justify>The Ministry of Micro, Small &amp; Medium Enterprises in its latest report has said that the COVID-19 epidemic has temporarily affected various sectors including Micro, Small and Medium Enterprises in the country. <BR><P align=justify>According to the report, economic activity contracted due to the strict lockdown measures imposed by the Government. The report further said that this contraction has also had impact on the MSME sector.<P align=justify>Studies have been conducted by National Small Industries Corporation (NSIC) and Khadi and Village Industries Commission (KVIC) to assess the impact of COVID-19 Pandemic on MSMEs including units set up under Prime Minister's Employment Generation Programme (PMEGP).<BR>
30-Jul-2021   11:55 Hrs IST Around 1.09 crore MSME borrowers given Rs 1.65 lakh crore support under ECLGS <p align="justify">MSME Minister Narayan Rane said that the government has provided with guarantee support amounting to Rs 1.65 lakh crore to 1.09 crore MSME borrowers under the Emergency Credit Line Guarantee Scheme (ECLGS). ECLGS was announced as part of the Aatmanirbhar Bharat Package 2020 with an aim to help MSMEs/small businesses meet their operational liabilities and resume business in view of the distress caused by the pandemic.</p><p align="justify">Under the scheme, MLIs (Member Lending Institutions) are provided a 100 percent guarantee against any losses suffered due to non-repayment of ECLGS funding by borrowers. The overall cap of admissible guarantee of ECLGS was raised from Rs 3 lakh crore to Rs 4.5 lakh crore on June 28, 2021.</p><p align="justify">The government has announced that MSME dues should be cleared by government agencies and central public sector enterprises (CPSEs) within 45 days. Since May 2020 and up to July 26, 2021, pending payments of Rs 55,863.30 crore have been made to MSMEs. <br></p>
30-Jul-2021   10:00 Hrs IST Govt permits 100% FDI in oil & gas PSUs approved for strategic disinvestment
30-Jul-2021   09:47 Hrs IST Real estate sector's contribution to GDP likely to reach 10% by 2025: Durga Shanker Mishra
30-Jul-2021   09:19 Hrs IST Inflation to come down under 6 percent mark in July: CEA
29-Jul-2021   13:39 Hrs IST Govt launches ‘Secured Logistics Document Exchange' to further improve ease of doing business
29-Jul-2021   11:53 Hrs IST Govt's stimulus package for revival of pandemic-hit economy inadequate: Par panel
29-Jul-2021   10:00 Hrs IST Cabinet gives green signal for amendment to DICGC Act to support depositors of stressed banks
29-Jul-2021   09:37 Hrs IST India likely to hit growth rate of 6.5-7% in FY23: CEA
29-Jul-2021   09:16 Hrs IST RBI allows authorised non-bank payment system providers to participate in centralised payment systems