An estimated ~2 crores or ~20% of all workers employed by Micro, Small and Medium Enterprises (MSMEs) are at risk due to the COVID-19 pandemic and our response to the pandemic. MSMEs in 8 states / union territories are especially vulnerable. Why? How? Let’s break it down.
On the 13th of May, the central government announced 6 sweeping reforms / stimuli for MSMEs in India worth Rs. 3.7 lakh crores (~US$ 50 billion). Only 15% of that was additional cash, but all in all, it was still staggering. And exciting.