Union Budget 2023-24: Govt to Launch Revamped Credit Guarantee Scheme Worth Rs 9,000 Crore for MSMEs

GG News Bureau

New Delhi, 1st Feb. Finance Minister Nirmala Sitharaman announced on Wednesday that a revamped credit guarantee scheme for MSMEs worth Rs 9,000 crore will be launched in April.

She also stated that the Centre will launch the ‘Dekho Apna Desh’ initiative to promote domestic tourism in her Budget 2023-24 presentation.

In addition, the government will establish a National Financial Information Registry to facilitate the efficient flow of credit and promote financial stability.

Sitharaman also stated that financial sector regulators will be tasked with conducting a thorough review of existing regulations.

She added that the government would set up a single window system for registrations and approvals in IFSC Gift City, as well as an integrated IT portal for reclaiming unclaimed shares and dividends.

Sitharaman also stated that a Central Processing Centre would be established to provide faster responses to companies filing forms under the Companies Act.

She also stated that a one-time new small savings scheme called the Mahila Samman Saving Certificate will be available for two years, until 2025.