November last year, Prime Minister Narendra Modi, announced various measures, including sanction of loans of up to Rs.1crore to SMEs in 59 minutes through special portal plus 2% interest benefaction or rebate for GST-registered MSMEs on additional loan of up to Rs.1crore, among various others.
100 Day outreach program was also started in November 2018, for MSMEs across 104 districts. According to Rajeev Kumar, Secretary in the Department of Financial Services said that 33lakh MSMEs have been provided with facilities under the 100-day outreach program and Loans worth Rs20,900 crore were sanctioned under this program.
Loans of Rs.6500 crore have been provided to the textile sector, comprising of 6.36 lakh MSMEs in 39 districts.
According to Textile Minister Smriti Irani, Rs.3000 crore has been expended as claim amount to 21 crore Indians who are associated to Pradhan Mantri Jeevan Jyoti Bima Yojna and Pradhan Mantri Suraksha Bima Yojana.
“Whether it be Jeevan Jyoti Bima Yojana or Suraksha Bima Yojana, today 21 crore Indians are linked to these two schemes and money is disbursed as soon as the claim is filed. Till today Rs 3,000 crore has been given under these two schemes,” Irani said.