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MSME minister Nitin Gadkari on Monday reviewed the scheme, which was launched by Prime Minister Narendra Modi in November 2018, ahead of the LokSabha elections in May this year. As part of access to credit, Modi announced 2% interest subvention for all GST registered MSMEs on fresh or incremental loans. The government has approved changes to operational guidelines of the interest subvention scheme for micro, small and medium enterprises (MSMEs), in a move aimed at providing a fillip to the sector.