Budget 2022: ECLGS to be expanded by Rs 50,000 cr to Rs 5 lakh crore-August 2024-www.financetom.com

Budget 2022: ECLGS to be expanded by Rs 50,000 cr to Rs 5 lakh crore

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Budget 2022: ECLGS to be expanded by Rs 50,000 cr to Rs 5 lakh crore

Feb 1, 2022 2:40 AM

Present her fourth Budget today, February 1, for the financial year 2022-23. Finance Minister Nirmala Sitharaman said guarantee cover for Emergency Credit Line Guarantee Scheme (ECLGS) will be expanded by Rs 50,000 crore to a total of Rs 5 lakh crore.

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The ECLGS was launched by the government as part of its Rs 20 lakh crore comprehensive package, which was announced by the Finance Ministry on May 13, 2020.

The Economic Survey has said that till November 19, 2021, a total amount of Rs 2.28 lakh crore was disbursed to 95.2 lakh borrowers, impacting 5.45 crore employees. The scheme has been extended till March 31, 2022.

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(Edited by : Thomas Abraham)

First Published:Feb 1, 2022 11:40 AM IST

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