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FM Sitharaman Announces Rs 1.1 Lakh Crore Loan Guarantee To Covid-Impacted Sectors

Free visa to first 5 lakh tourists; Rs 10 lakh loan to travel agencies, says Nirmala Sitharaman

FM Sitharaman Announces Rs 1.1 Lakh Crore Loan Guarantee To Covid-Impacted Sectors
To help revive the economy, Union finance minister Nirmala Sitharaman announced a Rs 1.1 lakh cr loan guarantee scheme for the Covid-hit sector. | Representational Image/ File Photo
FM Sitharaman Announces Rs 1.1 Lakh Crore Loan Guarantee To Covid-Impacted Sectors
outlookindia.com
2021-06-28T17:46:25+05:30

Addressing a press conference on Monday, Finance Minister Nirmala Sitharaman has announced a number of new measures to help revive the economy following the second wave of the Covid-19 pandemic.

Speaking at the conference, Sitharaman announced an additional Rs 23,000 crore for public health to help deal with the crisis.

To help revive the economy, the Fin Min announced a Rs 1.1 lakh cr loan guarantee scheme for the Covid-hit sector. Up to Rs 100 cr loan at 7.95% will be made available to the health sector.

In an effort to help MSMEs, the minister announced a new scheme to give up to Rs 1.25 lakh loan to 25 lakh small borrowers at lower interest rates. 

An additional Rs 1.5 lakh cr for Emergency Credit Line Guarantee Scheme was also allocated. Sitharaman added that the scope of the Emergency Credit Line Guarantee Scheme, under which collateral-free loan given to MSME and other sectors is also being widened

The FM also announced that the government will be extending the Atmanirbhar Bharat Rozgar Yojana to foot employer, employee's share of retiral benefit of new hires by private companies.

Additional Rs 14,775 cr fertilizer subsidy to be provided over and above Rs 85,413 cr budgeted: FM Nirmala Sitharaman.

Tourism sector also got a boost with the FM allocating Rs Rs 10 lakh loan to travel agencies and Rs 1 lakh loan to tourist guides.

Finance Minister Nirmala Sitharman's stimulus package for economy totals Rs 6.29 lakh cr.

An additional Rs 19,041 crore outlay to providing broadband across villages through BharatNet PPP model was announced.

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