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Revised ECLGS will help hotels, aviation sector, tour operators: CRISIL

More sectors have been brought under the scheme's ambit, some eligibility criteria have been relaxed, and micro, small and medium enterprises (MSMEs) have been allowed to avail of loans for longer tenures, it said.

June 03, 2021 / 16:07 IST
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Businesses like hotels, civil aviation and tour operators, which are the hardest hit by the second wave of COVID-19, will get help through the expanded Emergency Credit Line Guarantee Scheme (ECLGS), a report said on Wednesday.

It will also support build-up of healthcare infrastructure, mainly oxygen availability, in tier-2 and beyond cities and the hinterland, the report by leading credit ratings agency Crisil said.

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The scheme was first announced in May last year, when the deep economic impact of the pandemic was becoming evident. The latest version of the scheme is valid till end September 2021 or till the Rs 3 lakh crore outlay gets exhausted.

More sectors have been brought under the scheme's ambit, some eligibility criteria have been relaxed, and micro, small and medium enterprises (MSMEs) have been allowed to avail of loans for longer tenures, it said, pointing out that loans of Rs 2.54 lakh crore have been sanctioned under the scheme as of May.