Page 29 - NIS English 01-15 July,2025
P. 29
Title tite | NATIONY
Economy | C O VER S T OR
Initiative to strengthen MSMEs
The Government of India launched the Emergency Credit
Facility Guarantee Scheme in May 2020. Its objective was
to help micro, small, and medium enterprises (MSMEs)
and business enterprises to overcome the difficulties caused by
the COVID-19 pandemic and restart their business.
Approval for MSMEs under ECLGS of more
n
than Rs 3.68 lakh crore. More than 1.20 crore
borrowers benefited from this.
Guarantee cover under MCGS-MSME increased
n
to Rs 100 crore. The Mutual Credit Guarantee
Scheme introduced 60% guarantee coverage for
credit facilities up to Rs 100 crore sanctioned to
MSMEs.
Production Linked Incentive Scheme
GNPA at 12-year low
India’s monetary and financial sectors have performed The Production Linked Incentive (PLI) scheme
well in 2024-25. Bank credit has grown at a stable launched by the Government of India in 2020 is a
rate during the financial year. There has been a transformational initiative aimed at boosting domestic
steady improvement in the profitability of scheduled production, attracting investment, reducing dependence on
banks. This is indicated by the decline in gross non- imports, and increasing exports.
performing assets (GNPA). n The PLI scheme generated investment of Rs
1.61 lakh crore, production of Rs 14 lakh crore,
n GNPA came down to 2.6% in December
2024, which is the lowest level in 12 years. exports of Rs 5.31 lakh crore, and 11.5 lakh jobs.
The banking system strengthened. (*From April 2020)
capable of working in the working age group Certainly, the Indian economy is not only
are not poor by choice. They are poor because performing better, but it has also started
they do not have access to many facilities and becoming stable. India is performing better than
opportunities. Citizens living anywhere in India, the estimates of all the agencies of the world
whether they are men or women, should get the because the country and its top leadership are
benefit of personal and collective facilities. This thinking not from quarter to quarter but from
increases the ease of living. The work done by the a long-term perspective. With foresight, by
central government in this direction, the general coordinating life and economy, it is moving ahead
budget for the Covid period was based on the towards the journey of Amrit Kaal with the resolve
same long-term thinking. of Viksit Bharat @ 2047. n
July 1-15, 2025 || NEW INDIA SAMACHAR 27
