New Delhi, May 5 -- The Union cabinet on Tuesday approved a Rs.18,100-crore support package to cushion businesses from liquidity stress from the ongoing West Asia crisis. The allocation, which is the fifth edition of the Emergency Credit Line Guarantee Scheme (ECLGS), was part of a series of amounts approved for sectors including shipping, railways and electronics, totalling Rs.50,000 crore.

The government-backed loan support scheme will facilitate an additional credit flow of up to Rs.2.55 trillion to the economy, including Rs.5,000 crore specifically for the aviation sector, a government statement said.

"The Emergency Credit Line Guarantee Scheme 5.0 approved by the Cabinet reflects our commitment to supporting India's businesses, esp...