 The government of India has declared six major reforms to boost up the micro, small and medium enterprises, in short MSMEs. The sector of economy apparently has taken the biggest brunt of the economic crash prompted by the coronavirus pandemic outbreak. The reforms have acknowledged that the segment is one of the key pillars of the Indian economy and hence needs a big impetus and stimulus. Some people may still question and doubt these measures and expect more. But I for one stand in favour of these measures and view them as a step in the right direction. Let me share the details of these reforms in my video talk today, the ones relating to MSMEs. Firstly, the government will arrange a collateral free automatic loan for SMEs up to 3 lakh crore, meaning thereby that MSME units need not furnish any collateral or guarantee for the loans availed under this scheme. They will also not be obligated to pay any principal component of the loan for the first year. First year would be a holiday year as to the principal payment. The tenure of the loan will be for four years. This is expected to benefit 45 lakh units, that is 4500,000 units. It will help in recommencing businesses and maintaining the jobs. Secondly, the government will organise Rs 20,000 crore subordinated debt for stressed MSMEs facing an equity problem. This measure will support the functioning of MSMEs which are either NPAs non-performing assets or are economically stressed. It is assumed that 2 lakh or 200,000 MSMEs may benefit under this grouping. The government will provide a support of Rs 4000 crore partial credit guarantee funding to banks. The promoters of the MSMEs will be eligible to receive debt by banks in the form of equity infusion. Thirdly, fund of the fund shall be structured and created for the infusion of Rs 50,000 crore as equity into MSMEs. This will help MSMEs with growth potential viabilities to avail greater support in capacity expansion and for getting listed on the stock exchanges in the stock markets. Fourthly and very importantly, the definition of MSME is being reformed and modified to reassure and boost MSMEs to flourish and become bigger, without losing onto the benefits availed by MSMEs. The investment limit beg your pardon that defined the MSME is being revised upwards along with the addition of turnover as criteria to categorise MSMEs. Further variation and distinction between manufacturing and service MSMEs is being completely eliminated removed. For micro enterprises in both manufacturing and service sectors, the investment limit is being raised from Rs 25 lakh and Rs 10 lakh respectively to Rs 1 crore. It's huge with a maximum turnover of Rs 5 crore. Likewise for small enterprises in both the sectors, the investment limit is being raised from Rs 5 crore and Rs 2 crore respectively to Rs 10 crore. That's huge with a maximum turnover of Rs 50 crore. And finally for medium enterprises in manufacturing and service sector, the investment limit is being raised from Rs 10 crore and Rs 5 crore respectively to Rs 20 crore with a maximum turnover of Rs 100 crore. Fifthly, significantly, you know I would say because this, it's a significant measure beg your pardon because this will have some reciprocal backlash and even some issues with WTO. The measure says that the government procurement tenders up to Rs 200 crore will now be disallowed and no longer be open to global tenders and players. Thereby allowing MSMEs the exclusive opportunity to participate. The government believes that the MSMEs were subjected to unfair competition, rightly so by the foreign companies in the past which now will stand eliminated. So that's a revolutionary measure though it may face some disturbances and some opposition globally. Finally in this tough times and trying times the trade fairs will be tough, exhibitions will be tough and challenging to hold. So therefore e-linkage market is being provided for MSMEs and further the government has assured to clear all the receivables due to MSMEs in the next 45 days. That's fantastic I would say. So overall you know a great step in the right direction. Thank you and see you again in the next talk.