According to a survey-based report by Mahratta Chambers of Commerce, Industries and Agriculture (MCCIA), only one of ten MSMEs receive the Emergency Credit Line Guarantee Scheme (ECLGS).
Mahratta Chambers of Commerce, Industries and Agriculture (MCCIA) situated in Pune, is a non-profit, non-governmental association striving to develop Pune by improving physical and social infrastructure.
Around 125 MSMEs were surveyed and it was found that 20 per cent of them applied for the scheme and only 2 per cent has refined it till date.
As per Finance Minister, Nirmala Sitharaman, only Rs 4,150 crores out the national share of 75,000 crores is sanctioned to Maharashtra MSMEs. MCCIA commented, "That makes it 5.5% of the total funds sanctioned. This 5.5% is far lower than Maharashtra's 16% share in India's GDP."
Further, the MCCIA survey report suggests, MSMEs expect nothing more than 25 per cent of business turnover compared to last year, same time. Meanwhile, MSMEs also don't expect more than 37 per cent business turnover in July to September 2020 quarter.
Due to the nation-wide lockdown, several stranded migrant workers have returned home, so various companies in the state are suffering due to lack of labourers availability.
The survey report also reveals that less than half of the sanctioned amount has been disbursed to date. According to the survey, as of June 23, 2020, out of the total sanctioned amount Rs 79,000 crores, only Rs 35,000 crores has been disbursed.