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

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  • Post last modified:June 28, 2021
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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

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

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