Bangaluru, May 15 (KNN) The Laghu Udyog Bharati (LUB) in Karnataka has thanked both centre and state government for relief to Micro Small and Medium Enterprises (MSMEs) by announcing appropriate measures such as relaxation in fixed electricity bill.

''We are very happy about amid Corona crisis, Karnataka Chief Minister B. S. Yediyurappa has relaxed the fixed electric bill for the month of April and May for MSMEs. Thanks to Karnataka government,'' said LUB State Secretary Priya Puranik.

She also thanked Prime Minister Narendra Modi and Expressed her happiness over the announcement of Atmanirbhar Yojana by Prime minister.

Puranik further said that MSME people are happy as PF relaxation extended up to August.

''The government global tenders will be disallowed upto 200 crore and the definition of MSME is revived. For MSME many facilities and provisions have been announced. They are also happy as PF relaxation extended up to August. Government has announced very good schemes,'' she added.

For government procurement, tenders up to Rs 200 crore will no longer be under global tender route. Earlier MSMEs, used to get disqualified and disallowed from participation.

Finance Minister Nirmala Sitharaman on Wednesday had announced Rs 3 lakh crore collateral free loan for Micro Small and Medium Enterprises (MSMEs).

''The collateral free loans are for those with upto Rs 25 crore outstanding loan or Rs 100 crore turnover. The tenure of the loan will be 4-year and moratorium of 12 months,'' said FM at a press conference.

The Finance Minister also announced 100% credit guarantee cover to banks and Non-Banking Financial Corporation (NBFCs) on principal and interest which will benefit 45 lakh units.