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Union Finance Minister Nirmala Sithraman announced economic relief measuresFinance Minister Nirmala Sitharaman addressed a press conference at 3 pm on Monday, June 28, and announced some economic relief measures for all those sectors affected by the second wave of the COVID-19 pandemic in the country.
The government announced eight major economic relief measures and Rs 1.1 lakh crore loan guarantee scheme for the sectors affected by the pandemic.
An additional sum of ₹ 1.5 lakh crore under the Emergency Credit Line Guarantee Scheme (ECLGS) was announced, which was launched as part of the Atmanirbhar Bharat package last year.
(Also Read: To Perk Up Economy, 8 New Schemes, Health And Tourism In Focus )The overall cap of the ECLGS is now raised from Rs 3 lakh crore to Rs 4.5 lakh crore.
Finance Minister announced Rs 23,220 crore for public health, focused on short-term emergency preparedness with an emphasis on children and pediatric care. Last year, the government had announced several relief measures during the first wave of the pandemic, including the first stimulus package of Aatmnirbhar Bharat in May 2020.Credit guarantee scheme to facilitate loans through MFIs: What experts say"The government's backing by guaranteeing commercial banks for their lending to NBFC-MFIs to on lend to small borrowers will help financial support to such small borrowers and also enhance NBFCs capacity to lend,'' said Lalit Kumar, Partner, J Sagar Associates.New streamlined process for PPP Projects and asset monetizationA new policy will be formulated for the appraisal and approval of PPP proposals and monetization of core infrastructure assets, including through InvITsRs 3.03 lakh crore for reform based result linked power distribution schemeA total allocation of Rs 3.03 lakh crore is announced for reform based result linked power distribution scheme.
This is to provide financial assistance to DISCOMS - for infrastructure creation, upgradation of systemExtension of tenure of PLI scheme for large-scale electronics manufacturing The finance minister announced that the tenure of the production-linked incentive scheme is extended by one year till 2025-26Rs 33,000 crore boost announced for Project Exports through National Exports Insurance Account Finance Minister announced a boost of Rs 33,000 crore for Project Exports through National Exports Insurance Account Revival of Northeastern Regional Agricultural Marketing CorporationRevival package of Rs 77,45 crore announced for financial restructuring and infusion of funds.
It proposes to set up Northeastern Centre for organic cultivation, facilitating equity finance for entrepreneurs Bio fortified crop varieties developedICAR developed bio-fortified crop varieties having high nutrients such as protein, iron, zinc, and vitamin A. Rs 23,220 crore announced for public healthFinance Minister announced Rs 23,220 crore for the public health - the scheme is focused on short term emergency preparedness with emphasis on children, pediatric care Extension of Pradhan Mantri Gareeb Kalyan YojanaWith 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 pandemicAdditional Rs 14,7555 crore to be provided under NBS subsidyExisting NBS subsidy increased to Rs 42,275 crore in current financial year.
The additional amount is Rs 14,7555 crore, announced the finance ministerExtension of Atmanirbhar Bharta Rozgar Yojana The Atmanirbhar Bharta Rozgar Yojana is extended from June 30, 2021 to March 31, 2022Free tourist visa for 5 lakh touristsOnce visa issuance is restarted, first 5 lakh tourists visas will be issued free of charge, announced the finance minister. Financial support announced for Travel, tourism sectorFinance Minister announced that the financial support will cover more than 11,000 tourist guides, travel, tourism stakeholders.
Loans will be provided under 100 per cent guarantee, under few limitsRs 60,000 crore relief announced for other sectorsFinance Minister Nirmala Sitharaman announced Rs 60,000 crore for other sectors, The interest rate is capped at 8.25 p.aCredit guarantee scheme to facilitate loans to 25 lakh people under MFIsFinance Minister Nirmala Sitharaman announced a credit guarantee scheme to facilitate loans to 25 lakh borrowers under micro finance institutions (MFIs).
Guarantee will be provided to scheduled commercial banks for loans to new or existing NBFCs or MFIs for lending upto Rs 1.25 lakh Overall cap of Emergency credit line guarantee scheme raisedThe overall cap of Emergency credit line guarantee scheme is raised from Rs 3 lakh crore to Rs 4.5 lakh crore, announced the finance ministerRs 50,000 crore announced for health sectorFinance Minister announced Rs 50,000 crore in the health sector for scaling up medical infrastructureRs 1.5 lakh crore for emergency credit line guarantee schemeFinance Minister announces Rs 1.5 lakh crore guarantee scheme emergency credit line guarantee schemeRs 1.1 lakh crore loan guarantee for COVID affected sectorsFinance Minister announces 1.1 lakh crore guarantee scheme for COVID-19 affected sectorsNirmala Sitharaman Live: 8 Relief Measures To Be AnnouncedEight relief measures to be announced today, says Finance MinisterNirmala Sitharaman Live: Where And How To Watch Finance Minister's Press Conference
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FM Nirmala Sitharaman LIVE Updates: Nirmala Sitharaman Announcements On Economic Relief Steps: Examine Updates
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