The Union Cabinet on Wednesday approved a proposal to increase the limit of the Emergency Credit Line Guarantee Scheme (ECLGS) by Rs. 50,000 crore to Rs. 5 trillion. The additional amount is being earmarked for entities in hospitality and related sectors.
According to the government statement, while other sectors recovered faster, demand continued to be subdued for hospitality and related sectors, requiring the need for suitable interventions for sustenance and recovery.
“With high immunization levels, progressive roll-back of restrictions and overall economic recovery, conditions are in place for sustained growth in demand for these sectors as well. This additional guarantee