Nirmala Sitharaman to provide easy access to credit for MSMEs said that allocation of Rs. 350 crore, under the interest subvention scheme, is for 2% interest subvention for all MSMEs registered under GST on all new as well as incremental loans.
Shopowners With Turnover Less Than Rs. 1.5 Crore To Be Offered Pension Benefits
Also, the government is considering a launch of a payments portal dedicated exclusively for MSMEs such that all payments related issues can be addressed on the portal itself. "Government payments to suppliers and contractors are a major source of cash flow especially to MSMEs. Investment in MSMEs will receive a big boost if delays in payments are eliminated."
Under a new scheme named Pradhan Mantri Man Dhan scheme, the government announces providing pension benefit to 3 crore shopowners with annual turnover of less than Rs. 1.5 crore.
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