Cabinet approves modalities & road map for implementing two packages for MSMEs
New Delhi, Jun 1 The Cabinet on Monday approved modalities and road map for implementing two packages for MSMEs — Rs 20,000 crore package for distressed MSMEs and Rs 50,000 crore equity infusion through Fund of Funds.
Addressing reporters after the meeting, chaired by Prime Minister Narendra Modi, Union Minister Prakash Javadekar, flanked by MSME minister Nitin Gadkari and Agricultre Minister Narendra Tomar, said the Cabinet approved Rs 20,000 crore subordinate debt for stressed MSMEs and this will benefit two lakh stressed MSMEs.
The measure will fully pave the way for energising MSME Sector through ‘AtmaNirbharBharat Package’, Mr Gadkari said.
The turnover limit for medium enterprises has been further amended to Rs 250 crore and investment limit has been raised to Rs 50 crore, Mr Javadekar said.