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@article{190268,
        author = {Mr. Ariz K. Bokdawalla and Dr. Ajay Trivedi},
        title = {A Study of the Economic Impact of the Emergency Credit Line Guarantee Scheme (ECLGS) on Select MSMEs of Gujarat State distressed due to the Pandemic},
        journal = {International Journal of Innovative Research in Technology},
        year = {},
        volume = {12},
        number = {no},
        pages = {231-247},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=190268},
        abstract = {The MSME sector is considered to be the backbone of the Indian economy. It contributes significantly to employment generation, industrialization, and exports, fostering inclusive growth and promoting entrepreneurship. The role of MSMEs in the Indian economy is crucial for several reasons. They serve as a significant source of employment, particularly in economically disadvantaged regions, contributing to poverty alleviation and inclusive growth. MSMEs bolster the country's export potential, fostering international trade and economic stability. They promote entrepreneurship and innovation, driving competitiveness and productivity within the economy. Through initiatives and support from the government, the MSME sector continues to thrive, making substantial contributions to India's GDP and overall economic development.
MSME sector contributes close to 40% of the total industrial output, provides 50% of jobs in the manufacturing sector, employ 40 million people and is adding 1 million jobs every year. The contribution of MSMEs is 34% of the total exports. It is estimated that MSMEs account for almost 90% of industrial units in India and 40% of value addition in the manufacturing sector. MSME sector contributes to approx. 8-10% to the country’s GDP. These figures underline the significant importance this sector has for the Indian Economy.
MSMEs are crucial to Gujarat's economic growth, playing a vital role in employment, entrepreneurship, and overall economic development. Gujarat boasts a strong MSME sector, with over 11.26 lakh registered MSMEs, contributing significantly to the state's GDP and employment. Gujarat is known as the powerhouse of the economy of our country. The Pandemic induced distress in the economy necessitated the introduction of a slew of measures by the Government to not just salvage them but to ensure that they manage to survive this difficult period and also not falter financially post this difficult time. One of the important steps taken by the Union Government to address the issue of preventing the MSME sector from going bust, was the introduction of Emergency Credit Life Guarantee Scheme (ECLGS). 
The main objective of this study was to find out the precise economic impact of this scheme on the MSMEs of Gujarat state distressed due to the Pandemic. Central to this study was the effort to determine the exact economic impact of this scheme through the various economic parameters that have been influenced by the ECLGS on the financial improvement of the MSMEs of Gujarat state which had been severely distressed by the Pandemic. By delving into different parameters and analysing them comprehensively and thoroughly the study aims to unravel the varied layers of the economic impact of this scheme on the MSMEs of Gujarat state. The method to be used to study and determine the economic impact would be through a Questionnaire. The data for this study was gathered from many related research papers, periodicals, government publications and so on. The data was tested against the null hypothesis and then was analysed to derive the conclusion and recommendations as to what was the economic impact of the scheme on the MSMEs which were severely distressed by the Pandemic.},
        keywords = {NA},
        month = {},
        }