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Mar 30 • 8 tweets • 5 min read
National Credit Guarantee Trustee Company Limited #NCGTC today extended the Emergency Credit Line Guarantee Scheme #ECLGS beyond March 2022, till March 2023

Read More ➡️ pib.gov.in/PressReleaseIf…
(1/8) ImageImage
✅ Scope of #ECLGS enhanced & validity extended till 31.3.23
✅ #ECLGS benefits expanded to Hospitality, Travel, Tourism & Civil Aviation sectors
✅ Rs 3.19 lakh cr. loans sanctioned under #ECLGS as on 25.03.22; about 95% of guarantees issued for loans sanctioned to #MSMEs (2/8)
#ECLGS extended following the announcement by Union Finance Minister Smt. @nsitharaman in Union Budget 2022-23 regarding the extension of #ECLGS upto March 2023. (3/8)
FM Smt. @nsitharaman had also chaired post Budget consultations with the Travel, Tourism and Hospitality sector and the Civil Aviation sector delegations to understand specific issues related to credit flow on 25th February 2022. (4/8)
These modifications would ensure that businesses in the hospitality and related sectors which have been adversely impacted by the multiple waves of COVID-19 pandemic get support through enhanced coverage and collateral free liquidity. (5/8)
#ECLGS, since its launch, has extended relief to over 1.17 crore Micro, Small and Medium Enterprises #MSMEs and businesses. (6/8)
As on 25.3.2022, loans sanctioned have crossed Rs. 3.19 lakh crore under the Scheme and out of total guarantees issued, about 95% of the guarantees issued are for loans sanctioned to Micro, Small and Medium Enterprises. (7/8)
In order to operationalise the above changes in the scheme, the National Credit Guarantee Trustee Company Ltd. #NCGTC will issue necessary guidelines for Lending Institutions. (8/8)

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More from @FinMinIndia

Ministry of Finance Profile picture
Mar 31
☑️ Close monitoring of receipts from taxes & duties to the Union Government in FY 2021-22 has enabled @FinMinIndia to release two additional instalments of Central Taxes (Rs 95,082 Cr.) over and above the regular 14 instalments devolved to States during a financial year. (1/5) Image
☑️ Further to this,  a net additional amount of Rs. 43,168 crore was also released towards settlement of dues of States’ Share in Central Taxes payable from 1996-97 to 2017-2018. (2/5)
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Read 5 tweets
Ministry of Finance Profile picture
Nov 30, 2021
✅ India likely to have double digit growth in FY21-22

✅ India’s policy focused on both Supply & demand to ensure inflation under control. In contrast, post GFC, runaway inflation manifested because of the policy focused only on demand (1/6)
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✅ This is partly also due to contribution to investment by the private sector (3/6)
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Ministry of Finance Profile picture
Sep 16, 2021
Central Government guarantee of Rs.30,600 crore to back Security Receipts issued by NARCL for acquiring stressed loan assets was approved by Cabinet yesterday.
The following FAQs explain various aspects regarding the same.
Read more➡️
pib.gov.in/PressReleasePa…
What is National Asset Reconstruction Company Limited (NARCL)? Who has set it up?👇
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Read 12 tweets
Ministry of Finance Profile picture
Sep 10, 2021
Last week India unveiled the #AccountAggregator network, a financial data-sharing system. Account Aggregator empowers the individual with control over their personal financial data, which otherwise remains in silos.
Read more➡️ pib.gov.in/PressReleaseIf…
पिछले सप्ताह, भारत ने वित्तीय डेटा-साझा प्रणाली - अकाउंट एग्रीगेटर (एए) नेटवर्क का अनावरण किया।अकाउंट एग्रीगेटर व्यक्ति को अपने व्यक्तिगत वित्तीय डेटा पर नियंत्रण के साथ सशक्त बनाता है, जो डेटा सामान्यतया अलग-थलग और आसान पहुँच से बाहर रहते हैं।
विवरण➡️pib.gov.in/PressReleasePa…
What is an #AccountAggregator? 👇
Read 13 tweets
Ministry of Finance Profile picture
Jun 30, 2021
✅On the eve of completion of #4yearsofGST , CBIC to honour the tax payers contributing to the GST success story
✅CBIC to issue certificates of appreciation to honour contributions of tax payers
Read more➡️ pib.gov.in/PressReleaseIf…

(1/5)
✅Government reaffirms its commitment to continuous improvement in taxpayer services
(2/5)
A data analytics exercise was undertaken by the Central Board of Indirect Taxes and Customs to identify taxpayers who have made substantial contribution in payment of GST in cash along with timely filing of returns.
(3/5)
Read 5 tweets
Ministry of Finance Profile picture
Jun 30, 2021
Overall, GST rates have been reduced on 400 goods and 80 services. Given that, in the pre-GST regime, the combined Centre and States rates were more than 31% on most of the items; this reduction marks a significant relief for the taxpayer. #4yearsofGST
(1/8)
Common-use items such as hair oil, toothpaste, and soap have seen their tax rates come down from 29.3% in the pre-GST era to just 18% under GST. #4yearsofGST
(2/8)
Appliances such as fridges, washing machines, vacuum cleaners, food grinders and mixers, shavers, hair clippers, water heaters, hair dryers, electric smoothing irons, TVs (up to 32 inches) have all seen tax rates lowered from 31.3% to 18% due to GST. #4yearsofGST
(3/8)
Read 8 tweets

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