Excellence by Saikat Sir: 06/25/20

The government announced a Rs 15,000 crore infrastructure development fund with an interest subsidy scheme to promote investment by private players and MSMEs in dairy, meat processing and animal feed plants, a move which is expected to create 3.5 million jobs.
The fund is part of the Rs 20 trillion stimulus package announced in May to help people affected by the lockdown to prevent the spread of Covid-19.
An interest subvention of 3-4 per cent will be provided to farmer producer organisations, MSMEs and private players for setting up of dairy, meat processing and animal feed plants.
The government had earlier approved the Dairy Infrastructure Development Fund (DIDF) worth Rs 10,000 crore for incentivizing investment by the cooperative sector for development of dairy infrastructure.
Besides, the Centre would also set up a Credit Guarantee Fund of Rs 750 crore to be managed by National Bank for Agriculture and Rural Development (NABARD) which would provide credit guarantee to the projects which are covered under the MSME defined ceilings. The guarantee coverage would be upto 25 per cent of the credit facility of the borrower

Union Minister Nitin Gadkari launched the Credit Guarantee Scheme for Sub-ordinate Debt to provide Rs 20,000 crore of guarantee cover to two lakh micro, small and medium enterprises.
The funding scheme to help the distressed MSME sector entails a sub-debt facility to the promoters of those operational MSMEs that are distressed or non-performing assets (NPAs). It is also called the ”Distressed Assets Fund ” Sub-ordinate Debt for MSMEs”.
Promoters of the MSMEs will be given credit equal to 15 percent of their stake (equity plus debt) or Rs 75 lakh, whichever is lower.
Ninety per cent guarantee coverage for this sub-debt will be given under the scheme, whereas the remaining 10 per cent would come from the promoters concerned.
There will be a moratorium of seven years on payment of principal amount, whereas maximum tenure for repayment will be 10 years.
Promoters of MSMEs meeting the eligibility criteria may approach any scheduled commercial banks to avail benefit under the scheme. The scheme will be operationalised through Credit Guarantee Fund Trust for MSEs

Minister for Road Transport & Highways, Minister of Shipping and Micro, Small and Medium Enterprises- Nitin Jairam Gadkari
Constituency- Nagpur,Maharashtra

Union Minister of State (Independent Charge) Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh inaugurated two important Bridges Devika and Puneja in Udhampur and Doda districts respectively in Jammu and Kashmir through virtual platform.
The 10-meter-long Devika Bridge at a cost of 75 lakhs was constructed in about one-year time span by Border Roads Organisation.
50-meter-long Puneja Bridge constructed by BRO at a cost of Rs 4 Crore at Bhaderwah in Doda District. Basoli-Bani-Bhaderwah road is a vital alternate link to the Doda, Kishtwar, Bhaderwah and Kashmir valley from Pathankot (Punjab) region without passing Jammu and Udhampur.

The government decided to provide 2 per cent interest subvention to borrowers under the ‘Shishu’ category of the flagship Pradhan Mantri MUDRA Yojana (PMMY), for a period of 12 months to eligible borrowers.
Under the Shishu category, collateral free loans of up to50,000 are given to beneficiaries.
The PMMY was launched by Prime Minister Narendra Modi on April 8, 2015 for providing loans up to 10 lakh to non-corporate, non-farm small/micro enterprises.
These loans are classified as MUDRA loans under PMMY. These loans are given by commercial banks, RRBs, small finance banks, MFIs and NBFCs.

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