Centre Launches Updated Credit Linked Capital Subsidy Scheme for MSME

On September 5, 2019, Government launched the updated Credit linked Capital Subsidy Scheme (CLCSS) to allow micro, small & medium enterprises (MSMEs) access to capital.
The CLCSS scheme provides an upfront subsidy of 15 percent on institutional credit up to Rs.10 million (Rs 1 crore) for MSMEs in the specified 51 sub-sectors.
Now, in the updated scheme, there is an additional 10 percent subsidy for SC-ST entrepreneurs for the same, while special provisions have been made for 117 ‘aspirational’ districts, hill states and the northeastern region.
Also, In February 2019, an outlay of Rs 2,900 crore was approved by the Cabinet Committee on Economic Affairs for the scheme.
But now, there will no upper limit on overall annual spending on the subsidy disbursal.

Points to Remember:

Under the updated Credit linked Capital Subsidy Scheme (CLCSS), what is the additional subsidy approved for SC-ST entrepreneurs of MSME on institutional credit up to Rs.10 million?