T3 site is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Podcast Streaming Now

HomeNewsAviationGovt Extends ECLGS for Civil Aviation under ECLGS 3.0

Govt Extends ECLGS for Civil Aviation under ECLGS 3.0

On account of the disruptions caused by the second wave of COVID 19 pandemic to businesses across various sectors of the economy, the Government has further enlarged the scope of Emergency Credit Line Guarantee Scheme (ECLGS) for MSMEs and aviation. “The Civil Aviation sector to be eligible under ECLGS 3.0,” the release said.

Commenting on the development, Ankur Bhatia, Executive Director Bird Group, said: “The extension of Emergency Loan Credit Guarantee Scheme for aviation sector will ease the prolonged strain on employment-intensive sector. The move will bolster the much-needed liquidity to these sectors which employ a large number of people.

“It is appreciated that inspite the revenue constraints faced by the government and its impact on the widening fiscal deficit, the government has taken cognisance of the strain the aviation sector is going through.This will help the sector tide over the cash crunch and working capital issues.

“One of the key challenges faced by the stressed sectors is severe liquidity crunch in the wake of low demand and an ECLGS scheme could help provide interim liquidity support, till demand recovers.” 

The modifications in ECLGS,would enhance the utility and impact of ECLGS by providing additional support to MSMEs, safeguarding livelihoods and helping in seamless resumption of business activity. These changes will further facilitate flow of institutional credit at reasonable terms.

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!
RELATED ARTICLES

SOCIAL FOLLOWERS

FansLike
FollowersFollow

GALLERY

slide2
slide3
slide4
slide5
slide6
slide7
slide8
slide9
slide10
slide11
slide12
slide13
slide14
slide15
slide16
slide17
slide18
slide19
slide20
slide21
slide22
slide23
slide24
slide25
slide26
slide27

Upcoming Events

NEWSLETTER

    Appointment