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Oxygen generation: Finance Ministry enlarges scope of credit scheme for setting up plants
The Centre on Sunday enlarged the scope of the 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.
Industry captains appreciated the move but expressed concerns about its efficacy as the scheme’s allocation has not been enhanced beyond the original ₹3 lakh crore. The ECLGS was launched last year to help businesses tide over the national lockdown’s adverse effects and about ₹2.55 lakh crore has already been utilised.
Public sector banks said they were ready to implement the expanded scheme
