Report
MSME sector receives Financial
Relief post announcement of
Economic Package
CMAI welcomed the measure announced by
Hon'ble Finance Minister, Smt Nirmala Sitharaman
to support Small Businesses and Vendors
CMAI welcomed the measures announced
by Smt Nirmala Sitharaman, Hon Finance
Minister, especially those connected with the
Government’s support to the MSME Sector, on
May 14, 2020.
The enhancing of the upper limits of the sector,
the merging of the Manufacturing and Service
Sectors, and the addition of a Turnover based
criteria, was created to enable enterprises,
especially in the Garment Industry, to take
advantage of the various schemes under the
MSME umbrella.
The MSME sector will be backed by additional
Loans given by the Government and will require
No collateral or Guarantee. This will enable many
members to also get the much-needed working
capital assistance that the Industry needs to
18 I APPAREL I August 2020