(Image source from: sentinelassam.com)
Narendra Modi and his government announced relief measures after the country is done with the first wave of coronavirus and the lockdown. Indian Finance Minister Nirmala Sitharaman addressed the media this afternoon and announced several economic relief measures for the country for all the sectors that are impacted because of the second wave. Nirmala Sitharaman announced Rs 1.1 lakh crore loan guarantee scheme. Rs 1.5 lakh crore additional sum was announced under the Emergency Credit Line Guarantee Scheme (ECLGS). This was launched by Narendra Modi as per the Atmanirbhar Bharat package last year.
Nirmala Sitharaman announced Rs 50,000 crores for the health sector for scaling up the medical infrastructure. The Emergency credit line guarantee scheme is raised from Rs 3 lakh crores to Rs 4.5 lakh crores. Nirmala Sitharaman also announced a credit guarantee scheme for 25 lakh borrowers under microfinance institutions. A guarantee will be provided to scheduled commercial banks. Nirmala Sitharaman also announced Rs 60,000 crores for other sectors and the interest rate is capped at 8.25 per annum. She announced financial support for over 11,000 tourist guides along with the stakeholders in tourism and travel. All the loans will be given at 100 percent guarantee with few limits. The first 5 lakh tourist visas will be issued free of charge told Nirmala Sitharaman.
The Atmanirbhar Bharta Rozgar Yojana got extended from June 30th this year to March 31st, 2022. The NBS subsidy is increased to Rs 42,275 crores for this financial year and an additional amount of Rs 14,755 crores is announced by Nirmala Sitharaman. The total cost of Pradhan Mantri Gareeb Kalyan Yojana stands at 2,27,841 crores. Rs 23,220 crores are announced for the public health. Rs 7745 crores are announced for restructuring the finances and the infusion of funds. Nirmala Sitharaman announced Rs 33,000 crores for Project Exports that are done through National Exports Insurance Account.
By Siva Kumar
