About 1.19 crore borrowers have received Rs 3.6 lakh crore as loans through the Emergency Credit Line Guarantee Scheme launched by the Indian government, as of November 2022. The government has also raised the guarantee limit to Rs 5 lakh crore, along with an additional guarantee cover of Rs 50,000 crore set aside for the hospitality and civil aviation industries according to the Finance Minister.
This is why the credit provided to support domestic airlines hasn't affected the share of funds kept for micro, small and medium enterprises. The credit limit for the aviation sector had been raised to Rs 1500 crore in October.
Announced in May 2020 as a remedy for the impact of the pandemic on all sectors, the government scheme has now been extended till March 2023, for providing loans to MSMEs.
