To help revive the coronavirus pandemic-hit economy, Finance Minister Nirmala Sitharaman announced a number of measures, including a credit guarantee scheme for improving health infrastructure, and enhancing the limit under the Emergency Credit Line Guarantee Scheme (ECLGS) by 50% for the Ministry of Micro, Small and Medium Enterprises (MSME) sector facing liquidity crunch.

Welcoming the steps, the former president of Federation for Indian Exports Organisations (FIEO) said that the measures would help in reviving the economic growth and boosting exports. “Insurance cover to ECGC will give a big boost to export sector and comfort to the exporting community in this crisis period,” he said.

Recently elected Council for Leather Exports (CLE) Chairman Sanjay Leekha said that the announcements will help in growth of exports from the sector and the proposal to infuse equity in ECGC will provide the much needed risk coverage in the current pandemic situation.

Source: Outlook India