Micro, Small, and Medium Enterprises (MSMEs) contribute significantly to India's GDP. They account for over 30% of the manufacturing output. MSMEs provide employment to around 110 million people. The MSME Development Act was enacted in 2006. These enterprises play a crucial role in promoting entrepreneurship. They are vital for balanced regional development. Government schemes support their growth and sustainability.
The Union Cabinet approved the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 on May 5, 2026, to provide ₹2.55 lakh crore in additional credit support to eligible businesses....
