At a press conference at 3 p.m. on Monday, June 28, Finance Minister Nirmala Sitharaman announced some economic relief measures for all sectors affected by the country’s second wave of the COVID-19 pandemic. The Finance Minister announced eight relief measures for the afflicted country.
Rs 1.1 lakh crore loan guarantee for COVID affected sectors
Finance Minister announces 1.1 lakh crore guarantee scheme for COVID–19 affected sectors.
Rs 1.5 lakh crore for emergency credit line guarantee scheme
Finance Minister announces ? 1.5 lakh crore guarantee scheme emergency credit line guarantee scheme
Rs 50,000 crore announced for the health sector
Finance Minister announced ? 50,000 crore in the health sector for scaling up medical infrastructure
Overall cap of Emergency credit line guarantee scheme raised
The overall cap of the Emergency credit line guarantee scheme is raised from ? 3 lakh crore to ? 4.5 lakh crore, announced the finance minister
Credit guarantee scheme to facilitate loans to 25 lakh people under MFIs
Finance Minister Nirmala Sitharaman announced a credit guarantee scheme to facilitate loans to 25 lakh borrowers under microfinance institutions (MFIs). The guarantee will be provided to scheduled commercial banks for loans to new or existing NBFCs or MFIs for lending up to ? 1.25 lakh
Rs 60,000 crore relief announced for other sectors
Finance Minister Nirmala Sitharaman announced ? 60,000 crores for other sectors, The interest rate is capped at 8.25 p.a
Financial support announced for Travel, the tourism sector
Finance Minister announced that the financial support will cover more than 11,000 tourist guides, travel, tourism stakeholders. Loans will be provided under 100 percent guarantee, under few limits
Free tourist visa for 5 lakh tourists
Once visa issuance is restarted, the first 5 lakh tourist visas will be issued free of charge, announced the finance minister.
Extension of Atmanirbhar Bharta Rozgar Yojana
The Atmanirbhar Bharta Rozgar Yojana is extended from June 30, 2021 to March 31, 2022
Additional ? 14,7555 crore to be provided under NBS subsidy
Existing NBS subsidy increased to ? 42,275 crore in current financial year. The additional amount is Rs 14,7555 crore, announced the finance minister.
Extension of Pradhan Mantri Gareeb Kalyan Yojana
With the extension, the total cost of the Pradhan Mantri Gareeb Kalyan Yojana now stands at 2,27,841 crore. The scheme entails to providing free food grains to the vulnerable sections amid the pandemic
Rs 23,220 crore announced for public health
Finance Minister announced ? 23,220 crore for public health – the scheme is focused on short term emergency preparedness with an emphasis on children, pediatric care
Bio fortified crop varieties developed
ICAR created bio-fortified crop varieties that are high in nutrients like protein, iron, zinc, and vitamin A.
Revival of Northeastern Regional Agricultural Marketing Corporation
A 77,45 crore revival package has been announced for financial restructuring and capital infusion. It proposes to establish the Northeastern Center for Organic Agriculture, which will facilitate equity financing for entrepreneurs.
Rs 33,000 crore boost announced for Project Exports through National Exports Insurance Account
The Finance Minister announced a 33,000 crore boost for Project Exports via the National Exports Insurance Account.
Extension of tenure of PLI scheme for large-scale electronics manufacturing
The finance minister announced that the production-linked incentive scheme’s tenure will be extended by one year until 2025-26.
Rs 3.03 lakh crore for reform based result linked power distribution scheme
A total of 3.03 lakh crore has been announced for the reform-based result-linked power distribution scheme. This is for financial assistance to DISCOMS for infrastructure creation and system upgrades.
New streamlined process for PPP Projects and asset monetization
A new policy will be developed for the evaluation and approval of PPP proposals, as well as for the monetization of core infrastructure assets, including through InvITs.
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