Home » Uncategorized » FM Nirmala Sitharaman announces Economic Relief Measures to boost COVID-affected sectors

FM Nirmala Sitharaman announces Economic Relief Measures to boost COVID-affected sectors

Union Finance Minister Nirmala Sithraman today announced some relief measures for the sectors severely affected by the second wave of coronavirus pandemic.

Among her announcements were funds for the government’s emergency credit guarantee scheme, increased allocation towards public health, and a new loan guarantee scheme to help small borrowers. The finance minister also announced job benefits, extending the Atmanirbhar Bharat Rozgar Yojana and loan guarantees for covid-affected sectors such as tourism.

Finance Minister today announces relief package of Rs 6,28,993 crore to support Indian economy in fight against COVID-19 pandemic.

Here are the key highlights from the finance minister’s presentation:

• Rs 1.1 lakh crore loan guarantee scheme for COVID affected sectors

• Additional Rs 1.5 lakh crore for Emergency Credit Line Guarantee Scheme

• Credit Guarantee Scheme to facilitate loans to 25 lakh persons through Micro Finance Institutions (MFIs)

• Financial support to more than 11,000 Registered Tourists/ Guides/ Travel and Tourism Stakeholders

• Free one month Tourist Visa to first 5 lakh tourists

• Extension of Aatma Nirbhar Bharat Rozgar Yojana till 31st March 2022

• Additional subsidy of Rs. 14,775 crore for DAP & P&K fertilizers

• Extension of Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) – Free food grains from May to November, 2021

• Rs. 23,220 crore more for public health with emphasis on children and paediatric care/paediatric beds

• 21 varieties of bio-fortified crop for nutrition, climate resilience and other traits to be dedicated to the nation

• Revival of North Eastern Regional Agricultural Marketing Corporation (NERAMAC) with package of Rs 77.45 crore

• Rs. 33,000 crore boost for project exports through National Export Insurance Account (NETA)

• Rs. 88,000 crore boost to Export Insurance Cover

• Rs. 19,041 crore For Broadband to each Village through BharatNet PPP Model

• Extension of Tenure of PLI Scheme for Large Scale Electronics Manufacturing till 2025-26

• Rs 3.03 lakh crore for Reform-Based Result-Linked Power Distribution Scheme

• New Streamlined Process for PPP Projects and Asset Monetization

For more details contact out team at +91-7991109093 or drop email us at [email protected]

Note: This Post was last updated on June 28, 2021

Disclaimer: The entire contents of this document have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation i.e. June 28, 2021. Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, We assume no responsibility therefore. Users of this information are expected to refer to the relevant existing provisions of applicable Laws. The user of the information agrees that the information is not a professional advice and is subject to change without notice. We assume no responsibility for the consequences of use of such information. IN NO EVENT SHALL WE SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM, ARISING OUT OF OR IN CONNECTION WITH THE USE OF THE INFORMATION.

Avatar photo

Founder & Director | COO & CHRO at eTaxFinance | Content Writer at eTaxFinance Blog | Department Head for Intellectual Property & Startup Team | Head-Corporate Strategy and Planning