Union Budget 2020 promises more cash inflow into MSMEs. App-based invoice financing loan platform for MSMEs. Move to up MSMEs’ digital lending potential to 7 Lakh Cr by 2023. Amendment of the Factoring Regulation Act 2011 to boost funding availability. New Scheme to grant loans to MSME Entrepreneurs.
Loans guaranteed by the Credit Guarantee Trust for Medium and Small Entrepreneurs (CGTMSE). National Logistics Policy to make MSMEs competitive. A dedicated online portal for ‘1 cr loan in 59 min’ scheme for MSMEs. 350 cr will be earmarked for GST registered MSMEs. Govt requests RBI to extend debt restructuring permit to one more year.
