Working on Rs 1 trn fund for MSMEs to provide liquidity: Nitin Gadkari

Move may see Govt tap into Rs. 80,000 crore worth of ESIC funds

The government may soon set up a Rs 1 trillion revolving fund for micro, small and medium enterprises (MSMEs) to bring in much-needed liquidity for small businesses if the Prime Minister’s Office accepts the proposal, MSME Minister Nitin Gadkari (pictured) said  on Friday.
 

A day after he first mentioned the ambitious scheme, Gadkari on Friday fleshed out his plan at a webinar with industry body Assocham. While the minister remained mum on the details, he revealed that it involves using funds lying idle with the Employees’ State Insurance Corporation (ESIC) to help small businesses on an emergency footing. It will