Government Advances Support for MSMEs with Enhanced Financial Initiatives

The Government of India has announced several initiatives to strengthen financial support for Micro, Small, and Medium Enterprises (MSMEs). These include increasing the Credit Guarantee Trust Fund ceiling from Rs. 5 Crore to Rs. 10 Crore and offering Margin Money subsidies up to 35% under the Prime Minister's Employment Generation Programme. Artisans in 18 traditional trades can avail of loans up to Rs. 3 Lakh with an 8% interest subvention under PM Vishwakarma. Additionally, the Self Reliant India Fund will inject Rs. 50,000 Crores into MSMEs. Other measures aim to facilitate easier access to credit, exemplifying the government's commitment to empowering MSMEs as key drivers of economic growth.

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