New Delhi, June 5 -- The imposition of stringent lockdown measures for over 65 days to contain the coronavirus pandemic brought economic activity to a standstill, hitting small businesses-major job creators and the backbone of the Indian economy-the worst.
Last month, the government announced a slew of measures to rescue the micro, small and medium enterprises (MSMEs), which included collateral-free, automatic loans of up to '3 trillion backed by government guarantee, and updated definition of MSMEs, besides expediting payment of pending dues.
The measures were part of the '20-trillion financial package to restart and support the economy. In an email interview, Union MSME, road transport and highways minister Nitin Gadkari said while the ...