Govt Announces 8 COVID-19 Relief Measures Including 4 New Measures
Mumbai: Finance Minister Nirmala Sitharaman announced eight COVID-19 relief measures, four of which are new. These include a ₹1.1 lakh-crore loan guarantee scheme for affected sectors, including ₹50,000 crores for the health sector.
“Economic Relief Measures announced for various sectors. Total: Rs 6,28,993 crore,” the Ministry of Finance said on Monday.
As part of the measures, the central government announced a loan guarantee scheme of Rs 1.1 lakh crore for the COVID-affected sector, including Rs 50,000 crore for the health sector. Expanding the scope of the Emergency Credit Line Guarantee Scheme (ECLGS), the central government announced an additional Rs 1.5 lakh crore. The scheme was launched in May 2020 as part of the Atma Nirbhar Bharat package.
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The Finance Ministry said that under the Rs 1.1 lakh crore loan guarantee scheme for the coronavirus-affected sector, Rs 50,000 crore coverage for the health sector, aimed at targeting areas lacking medical infrastructure, 60,000 for other sectors.
“Credit Guarantee Scheme launched to provide loans to small borrowers through microfinance institutions. The maximum loan to an individual is 1.25 lakh, the interest rate is 2 per cent less than the rate fixed by RBI. Focus on fresh loans excluding NPAs Stressed borrowers are to be covered. The loan tenure is 3 years,” FM Sitharaman said.
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Once tourist visas are issued, the first 5 lakh tourist visas will be issued completely free of cost. This will be applicable till March 31, 2022, or till the first 5 lakh tourist visas are covered, whichever is earlier. A tourist can avail of the benefit only once, said FM Sitharaman.
FM Sitharaman said, “Atmanirbhar Bharat Rozgar Yojana was launched to encourage employment generation and the restoration has now been extended from 30 June 2021 to 31 March 2022. More than 21.4 lakh people from around 80,000 establishments have already been covered under this scheme. have benefited from the scheme.”
“Rs 23,220 crore for public health with a greater focus on child and pediatric care. Amount to be spent in this financial year only. This will include human resource augmentation to include medical students, nurses; Strengthening infrastructure like ICU beds, ambulances, O2 supplies, equipment, medicines,” FM Sitharaman said.
Twenty-one Climate-resilient and bio-fortified special varieties of crops will be released by the Indian Council of Agricultural Research (ICAR). This is being done to fight malnutrition and improve farmers’ income, said FM Nirmala Sitharaman.
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