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India is considering a proposal to enhance a loan guarantee program for small businesses, according to people with knowledge of the matter, as authorities boost measures to help the economy recover from a devastating coronavirus wave.
Prime Minister Narendra Modi’s government may allow small companies to borrow an additional 30% of their credit limit, up from 20% announced last year, the people said, asking not to be identified before a formal announcement. The additional debt will be fully backed by the administration.
The latest plan enhances a program announced last year that guaranteed as much as 3 trillion rupees ($41
