In what could mark one of the biggest overhauls of India’s small business regulatory framework, a high-level government panel has proposed a series of measures to ease compliance, reduce costs, and unlock credit for micro, small and medium enterprises (MSMEs), sources told CNBC-TV18.

The committee, chaired by Rajiv Gauba, a full-time member of NITI Aayog and former Cabinet Secretary, was constituted after Prime Minister Narendra Modi’s call in his Independence Day address to launch a “next-generation reform” agenda.

According to officials aware of the discussions, the panel has recommended expanding the Credit Guarantee Scheme to include medium enterprises—a move aimed at widening access to collateral-free loans and supporting scale-up investments, particularly in manufacturing.

In a si

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