New Delhi, Jul 30 (KNN) Union Minister of Micro, Small and Medium Enterprises (MSME) Narayan Rane has informed the parliament that dues of Rs 55,863.3 crore have been paid to the MSME since May 2020.

''Dues of Rs 55,863.3 crore have been paid to the MSME vendors by government ministries, Departments and CPSUs from 14th May

2020 till 26th July, 2021,'' he said in a written reply to the Lok Sabha on Thursday.

In a separate reply, Rane said that around 1.09 crore MSME borrowers have been provided with guarantee support of Rs 1.65 lakh crore under Emergency Credit Line Guarantee Scheme (ECLGS).

ECLGS was announced as part of the Aatmanirbhar Bharat Package 2020 with an aim to help MSMEs/small businesses meet their operational liabilities and resume businesses in view of the distress caused by the pandemic.

Under the scheme, Member Lending Institutions (MLIs) are provided 100 per cent guarantee against any losses suffered due to non-repayment of ECLGS funding by borrowers.

The overall cap of admissible guarantee of ECLGS was raised from Rs 3 lakh crore to Rs 4.5 lakh crore on June 28, 2021.

"Under the ECLGS, around 1.09 crore MSME borrowers have been provided with guarantee support amounting to Rs 1.65 lakh crore as on 02.07.2021," he added.