In a significant development, the Indian government has announced a new initiative to boost the country’s economy. The initiative aims to promote small and medium enterprises (SMEs) by providing them with better access to credit. This move is expected to stimulate economic growth and create more job opportunities in India. The government has allocated a substantial amount of funds to support SMEs, which are considered the backbone of the Indian economy. By facilitating easier access to credit, SMEs will be able to expand their operations and contribute more effectively to the country’s GDP. This initiative comes at a crucial time when the Indian economy is facing challenges due to the impact of the COVID-19 pandemic. With this new support from the government, SMEs will be better positioned to recover from the economic downturn and thrive in the post-pandemic era. The announcement has been welcomed by industry experts and business leaders who believe that it will have a positive impact on India’s economic trajectory. Overall, this initiative is expected to play a key role in driving economic growth and creating a more vibrant business environment in India.