The Union Cabinet on 30th June 2021 has decided to approve Loan Guarantee Scheme for Covid Affected Sectors (LGSCAS) enabling funding to the tune of Rs. 50,000 crore to provide financial guarantee cover for brownfield expansion and greenfield projects related to health/ medical infrastructure.
The Scheme would be applicable to all eligible loans sanctioned up to 31.03.2022, or till an amount of Rs. 50,000 crore is sanctioned, whichever is earlier and the Emergency Credit Line Guarantee Scheme (ECLGS) would be applicable to all eligible loans sanctioned till 30.09.2021, or till an amount of rupees four lakh fifty thousand crore is sanctioned under the GECL, whichever is earlier.
The Government has further enlarged the scope of the scheme on account of the disruptions caused by the second wave of COVID-19 pandemic to businesses across various sectors of the economy.
