New Delhi, Feb 1 (KNN) Delivering the union budget speech, Finance Minister Nirmala Sitharaman has announced the extension of Emergency Credit Line Guarantee Scheme (ECLGS) until March 2023. 

The guarantee cover has been increased from Rs 50,000 crore to Rs 5 lakh crore.

For the hospitality segment of MSME sector an extended guarantee cover is marked in the union budget FY23, said Sitharaman. 

Extension of EGLS was highly anticipated by the MSME sector. 

Further credit guarantee trust for MSMEs will be revamped with required infusion of funds which will facilitate additional credit of Rs 2 lakh crore for MSMEs while expanding employment opportunities.