Credit Guarantee Funds Trust for Micro & Small Enterprises: In the last budget, the government gave a big gift to small businessmen. A revised Credit Guarantee Scheme for the micro and small industries (MSMEs) of the country came into effect from April 1, 2023. In this, the annual guarantee fee for loans up to Rs 1 crore is being reduced from maximum 2% to 0.37%. This will reduce the total cost of credit for small businessmen. In the new scheme, the maximum limit of guarantee has also been increased from Rs 2 crore to Rs 5 crore.