Finance Minister Nirmala Sitharaman said during the budget speech that the loan guarantee scheme will be introduced to simplify the loan scheme for MSMEs.
In the budget, more emphasis has been given to MSMEs. A loan guarantee scheme has been introduced to help MSME owners avoid debt burden.
In that regard, Finance Minister Nirmala Sitharaman announced in the Budget that self-financed loan guarantees of up to Rs 100 crore each will be provided to MSME applicants.
Similarly, he said that the upper limit for Mudra schemes will be increased from Rs 10 lakh to Rs 20 lakh.
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