The Union Cabinet approved extending Stand-Up India (Rs 4,111 crore corpus) and the Credit Guarantee Fund for Micro Units (CGFMU, Rs 5,000 crore corpus) until 31 March 2031 to match the 16th Finance Commission cycle. It also extended the Medical Devices PLI scheme (PLI-MD 2.0) to FY36 with Rs 2,700 crore, cleared Rs 62,370.02 crore for Rabi 2026–27 P&K fertiliser subsidies, and approved the Rs 3,230 crore Yuge Yugeen Bharat Museum.
Key Facts
Stand-Up India: Extended five years to 31 March 2031 with a Rs 4,111 crore credit guarantee corpus targeting 2.5 lakh additional SC, ST, and women founders.
PMMY CGFMU: Extended five years to 31 March 2031 (16th Finance Commission cycle FY27–FY31) with a Rs 5,000 crore corpus backing Rs 12.6 lakh crore in Mudra credit.
PLI-MD 2.0: Medical devices incentive scheme extended through FY36 with Rs 2,700 crore across 4 Target Segments (~5% TS1, ~9% TS2–TS3, 6% TS4).
Rabi 2026–27 NBS: Rs 62,370.02 crore cleared for P&K fertilisers (1 Oct 2026 – 31 Mar 2027), up Rs 24,417.73 crore from Rabi 2025–26.
Museum & Metro: CCEA approved Rs 3,230 crore for Yuge Yugeen Bharat Museum (North & South Block, New Delhi); Cabinet cleared Rs 2,390 crore, 8.449-km Noida Metro Aqua Line extension.
GK Context
Stand-Up India was launched: on 5 April 2016 and is implemented by the Department of Financial Services (DFS), Ministry of Finance, through Scheduled Commercial Banks for greenfield enterprises (requiring >=51% SC/ST/woman shareholding for non-individual entities).
CGFMU (launched Jan 2016): is managed by the National Credit Guarantee Trustee Company Limited (NCGTC) and guarantees PMMY loans up to Rs 20 lakh, PMJDY overdrafts up to Rs 10,000, and SHG loans of Rs 10–20 lakh.
Static GK
16th Finance Commission (Chairman: Dr. Arvind Panagariya) award period: FY 2026–27 to FY 2030–31.
Nutrient Based Subsidy (NBS): scheme for P&K fertilisers is administered by the Department of Fertilizers (Ministry of Chemicals & Fertilizers) since April 2010.
Mains Analytical Framework
MSME & Inclusive Entrepreneurship: Extending CGFMU and Stand-Up India de-risks bank lending to first-time SC/ST/women founders and micro-enterprises.
Import Substitution & Food Security: PLI-MD 2.0 targets high-end medical device components, while enhanced Rabi NBS shields farmers from global DAP/MOP price volatility.
Test yourself
Mains Questions (1)
115 Marks250 Words
Analyse how the extension of credit guarantee mechanisms (CGFMU and Stand-Up India) aligned with the 16th Finance Commission cycle supports inclusive entrepreneurship and MSME formalisation in India.
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