Study says Centre’s scheme saved 1.5 crore jobs during pandemic

A study conducted by an SBI research team has said that the Modi government’s Emergency Credit Line Guarantee Scheme (ECLGS) scheme has saved the MSME sector from falling apart during the Covid-19 pandemic. 

As per the study’s conclusions, the scheme has helped “save 13.5 lakh units and 1.5 crore jobs.” It also said that loan accounts of the MSME sector were saved from becoming NPAs to the tune of Rs 1.8 lakh crore.

Commenting on the study, BJP MP Tejasvi Surya said, “It is one of the biggest components of Rs 20 lakh crore Atmanirbhar Bharat package. Timely financial infusions, as part of the scheme, has prominently helped in revitalizing the MSME sector which is a key part of India’s economic engine.”

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