FM Nirmala Sitharaman Announces Economic Relief Package of Rs 6,28,993 Crore; Details here


Finance minister Nirmala Sitharaman on June 28, 2021, announced 8 economic relief measures to boost the economy which has been affected by the second wave of COVID-19 pandemic.

Here are the Key Highlights:

  • A total of Rs 1.1 lakh crore loan guarantee scheme for sectors affected by COVID-19
    1. Rs 50,000 crore to health sector for scaling up health infrastructure. For health sector, maximum interest rate capped at 95%.
    2. Rs 60,000 crore to other sectors. For other sectors, interest rate is capped at 25%
  • Scope of ECLGS (Emergency Credit Line Guarantee Scheme) enlarged, the overall cap increased from Rs 3 lakh crore to Rs 4.5 lakh crore.
  • Credit Guarantee Scheme launched to provide loans to small borrowers via MFIs.

Maximum loan to the individual at Rs 1.25 lakh, interest rate 2% below RBI prescribed rate

Loan duration of 3 years under the scheme

  • New scheme to revive tourism with 100% guaranteed loans
    1. Financial support to be extended to more than 11,000 registered tourist guides,
    2. Travel & Tourism Stakeholders (TTS). TTS to get up to Rs 10 lakh loans under the scheme
    3. Licensed Tourist guides to get up to Rs 1 lakh loan
  • Free Tourist Visas to 5 lakh

Scheme applicable till 31 March 2022 or till the first 5 lakh tourist visas get covered, whichever is earlier.

  • Aatma Nirbhar Bharat Rozgar Yojana extended from 30 June 2021 to 31 March 2022.

More than 21.4 lakh people of nearly 80,000 establishments have already benefited from the scheme

  • Farmers to get additional protein-based fertilizer subsidy of nearly Rs 15,000 crore.
  • Free food grains will be provided to the poor from May to November 2021 under Pradhan Mantri Garib Kalyan Anna Yojana (PMGKY).

Click here for more detail


Knowledge Source:

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