Finance Minister Nirmala Sitharaman announced a slew of measures on Monday in a bid to provide relief to individuals as well as businesses amid the coronavirus pandemic.
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.
Finance Minister announced ₹ 23,220 crore for public health, focused on short-term emergency preparedness with an emphasis on children and pediatric care.
The Centre’s employment scheme — Atmanirbhar Bharat Rozgar Yojana — has been extended till March 31, 2022. The Atmanirbhar Bharat Rozgar Yojana, which was set to expire on June 30, 2021, has benefitted over 21.4 lakh people of nearly 80,000 establishments, she said.
So far, a benefit of Rs 902 crore has been given to 21.42 lakh beneficiaries of 79,577 establishments till June 18, 2021, under this scheme, said the Finance Minister. The total approved outlay for the scheme stands at Rs 22,810 crore, which will benefit an estimated 58.50 lakh beneficiaries.
The last date to register for the scheme is July 30, 2021.
Sitharaman also announced financial support to over 11,000 registered tourist guides, travel agents and tourism stakeholders under the new loan guarantee scheme.
Under the new loan guarantee scheme, Travel and Tourism Stakeholders (TTS) — recognised by the Ministry of Tourism — will be able to get Rs 10,00,000 loans per agency with 100 percent guarantee. Also, a provision to provide loan of Rs 1,00,000 for tourist guides licensed at regional or state level has been made. The Finance Ministry assured that there will no requirement for any processing charges, waiver of foreclosure or prepayment charges, or additional collateral for these personal loans.
New Credit Guarantee Scheme has been launched. This will give loans to small borrowers, through Micro Finance Institutions (MFIs), where the maximum loan to individuals will be Rs 1.25 lakh at an interest rate below 2 percent – as prescribed by the RBI.
The government is also set to give an additional Rs 19,041 crore outlay to provide broadband to each village, said the Finance Minister.
