Covid-19, Will the booster dose of FM Nirmala Sitaraman will really boost MSME Sector?

Finance Minister's  to support MSME sector against severe economic impact of Covid-19.

• NEW DELHI: Finance minister Nirmala Sitharaman will meet Prime Minister Narendra Modi on Thursday to finalise the stimulus and support measures to counter the severe economic impact of Covid-19.
• “If the package is finalised, it could be unveiled soon after,” a government official said on condition of anonymity.
• The upcoming package is likely to focus on the MSME sector, which has been the worst hit, and could include an over Rs 15,000 crore credit guarantee fund, another government official said.
• This is expected to be the first of a series of measures spanning other sectors of the economy as the situation on the ground unfolds after economic activity is opened up.
• On Wednesday, the government permitted many industrial and economic activities to resume operations in districts identified as green zones from 20-April-2020. 
• The finance ministry held several rounds of discussions with various ministries and departments on issues faced by sectors administered by them as also industry.
• Service sectors such as hospitality & tourism, aviation and exports including textiles and gems & jewellery are also in focus for some relief.

Salient features of the  Credit Guarantee scheme to MSME sector

• These loans would be collateral free and would not require MSMEs to pledge any security or arrange for third party guarantee for availing credit.
• If the MSME, which has availed a loan under the Credit Guarantee Scheme, becomes sick due to reasons beyond the control of the organisation, the lender also provides rehabilitation 
  facility to such MSMEs. This assistance is provided under the guarantee scheme.
• Loans up to Rs 50 lakh is allowed to individual MSMEs.