Stimulus 3.0: Narendra Modi Govt Announces Fresh Relief Package, From Creating More Jobs to Credit Guarantee Support Scheme, Here's How MSMEs Will Benefit

New Delhi, November 12: FM Nirmala Sitharaman announced a slew of measures as part of stimulus 3.0 with an attempt to give relief to the stressed sectors amid the coronavirus pandemic.

FM announced Atmanirbhar Bharat Rozgar Yojana to boost employment and create jobs. This will be effective from October 1, 2020. Under the new scheme, any EPFO-registered employer takes on new employees or hires those who lost jobs between March 1 and September 30 will be given some benefits.

The other measure was Credit guarantee support scheme, which was launched for the healthcare sector and 26 sectors stressed due to coronavirus pandemic. The scheme can be utilised for 100 percent guaranteed collateral-free additional credit at capped interest rates in these sectors.

The entities from these sectors with an outstanding credit of above Rs 50 crore and up to Rs 500 crore as of February 2, 2020, will be benefited in this scheme, the further FM added.

As part of PM Garib Kalyan Rozgar Yojana, an additional outlay of Rs 10,000 crores will be provided for in the current financial year, to boost rural employment.