Govt Approves Rs 20000 Crore For Stressed MSMEs PSU NEWS

New Delhi: The government on Monday approved provisioning of Rs 20,000 crore as subordinate debt to provide equity support to stressed MSMEs and proposed equity infusion of Rs 50,000 crore for units through a Fund of Funds as part of the roadmap to implement the package announced for the sector.

The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi also cleared the upward revision of the definition of micro, small and medium enterprises (MSMEs).

It cleared enhancing the turnover limit for classifying units as "medium" units to Rs 250 crore from Rs 100 crore announced last month along with the package for the sector.

Posted Date : 02-06-20

Categories : PSU NEWS

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