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MSME Loan Scheme includes Law professional

The Union Finance Ministry has decided to expand the scope of Micro, Small and Medium Enterprise [MSME] loan scheme due to Covid-19 to include professionals like doctors, lawyers, chartered accountant and others. 

The Finance Minister, Nirmala Sitharaman had announced 3-lakh-crore scheme in part of the government moto “Athmanirbhar package” to help MSME.

The government had decided to relax the eligibility criteria for tapping the Rs 3-lakh-crore Emergency Credit Line Guarantee Scheme (ECLGS) to cover professionals and enable to receive the business breakdown.