Press briefing of Cabinet Decision taken on 2021-03-01

Revising the Swashakthi Loan Scheme to provide loan facilities for the development of Small and Medium Scale Business Sector and generating employments

- Approval of the Cabinet has been granted at its meeting held on 2020‑10‑26 to implement the Swashakthi Loan Scheme which is functioning under the Ministry of Youth and Sports, with necessary amendments to provide loan facilities for the development of Small and Medium Scale Business Sector and generating employments. Out of the loans granted under this loan scheme, 58% has been granted for the existing enterprises whereas 42% of the loans has been provided to new enterprises. Accordingly, the Cabinet granted its concurrence to the proposal submitted by the Minister of Youth and Sports for providing opportunity to obtain loan facilities under the Swashakthi loan scheme also for the existing enterprises of small and medium scale entrepreneurs who are looking forward to scaling up their business through new product development or market development and to provide loan facilities not exceeding Rs.2 million.