What initiatives has the Indian government implemented to support MSMEs and startups?

The Indian government has improved loan access for MSMEs and startups by increasing loan guarantees from 5 to 10 crore rupees for MSMEs and from 10 to 20 crore rupees for startups. With these guarantees, the government backs these loans by covering bank losses if businesses can't repay, making banks more willing to lend to small businesses. This initiative unlocks an additional 1.5 trillion rupees in credit over the next five years, significantly benefiting the 4.5 crore MSMEs that contribute 29% to India's GDP and 50% of exports.