Finance minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs.
The loan will have 4-year tenure and will have 12-month moratorium, she said, adding that 45 lakh small businesses will benefit from this.
The PM's 'Atma Nirbhar Bharat' will set the Economy, Infrastructure, Technology Driven Systems, Demography and Demand as its cornerstones, said Sitharaman.
Sitharaman said that she shall come with her entire team to put out details of PM's vision with tranches beginning today. "We have responsibility towards poor, needy, migrant and divyang", Sitharaman said.