AEPC has hailed the government’s decision to raise exporters’ ceiling limit – both – liability and turnover – for availing the Emergency Credit Line Guarantee scheme (ECLGS). Many MSMEs earlier criticized the scheme for granting insufficient funds of Rs 3-lakh-crore for thousands of micro units in the country. But on July 29, member lending institution sanctioned a sum of Rs 136,155 crore for the scheme, of which Rs 87,277 crore has been disbursed.
The government has also decided to include individual loans given for business purpose within the ambit of ECLGS increasing the earlier liability ceiling from Rs 25 crore to Rs 50 crore and annual turnover from Rs 100 crore to Rs 250 crore. AEPC has sought a further increase in the liability limit up to Rs 100 crore and removal of the turnover limit as under the new classification export turnover would not be counted for MSMEs.