Credit and finance for MSMEs: The state government’s budget for 2023-2024 had announced that it will introduce the scheme this year and assign Rs 10 crore to raise credit guarantee coverage under CGTMSE up to 95 per cent.
The Goa government on Thursday signed three memorandums of understanding (MoUs) to strengthen MSMEs in the state and enable digital payments in government departments, said Chief Minister Pramod Sawant on Twitter. “Goa Government fulfils two more budgetary promises strengthening MSME and driving digitised Governance for Goans,” he said.
One of the MoUs signed was with the Credit Guarantee Fund Trust for Micro and Small Enterprises for administering the Goa Credit Guarantee Scheme or Mukhyamantri Saral Udyog Sahayya Yojana in the state.
The state government’s budget for 2023-2024 had announced that it will introduce the scheme this year and assign Rs 10 crore to raise credit guarantee coverage under CGTMSE up to 95 per cent.
Currently, for loans up to Rs 5 lakh, the guarantee cover available for micro enterprises under CGTMSE is up to 85 per cent while for loans between Rs 5 lakh and Rs 5 crore, the cover is up to Rs 75 per cent. For women entrepreneurs/ SC-ST entrepreneurs/ MSEs situated in aspirational districts/ ZED-certified MSEs, etc., the guarantee cover available is up to 85 per cent for loans up to Rs 5 crore.
For MSEs based Northeast region, Jammu & Kashmir and Ladakh, the cover limit is up to 80 per cent for loans up to Rs 50 lakh and up to 75 per cent for loans between Rs 50 lakh and Rs 5 crore.
According to the MSME Ministry’s data, 121 CGTMSE claims involving Rs 3.49 crore were settled out of 1,086 cases involving Rs 136.95 crore till October 20 in FY23.
The Goa government’s budget had also announced Rs 10 crore assigned under the Prime Minister Formalisation of Micro Food Processing Enterprises and formulated a new scheme Chief Minister’s Kaushalya Path scheme to skill, re-skill and up-skill local youth.
Meanwhile, the other two MoUs signed by the Goa government were “with @Paytm to help various Depts go digital by deploying Paytm devices – EDC, SB and QR Code and also promoting on the Paytm app and with the Institute of Chartered Accountants to develop co-operation and collaboration in capacity building, research, assistance in policy-making, consulting and other activities,” said Sawant.
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