Oxygen generation: Finance Ministry enlarges scope of credit scheme for setting up plants

The Emergency Credit Line Guarantee Scheme has been granted a three-month extension and will now be valid till September 30.

The Finance Ministry has enlarged the scope of the ₹3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) to cover loans up to ₹ 2 crore for setting up on-site oxygen generation plants at healthcare facilities and brought in the ailing civil aviation sector under its ambit. With the capital intensive-aviation sector under the scheme, the government has also dropped the ₹ 500 crore loan outstanding limit for availing emergency credit. The maximum additional assistance to each borrower has, however, been limited to 40% of the outstanding amount, or ₹ 200 crore, whichever is lower.