Finance Minister Nirmala Sitharaman addressed a press briefing on Monday, while focusing on eight COVID-19 related relief measures.
She announced Rs 1.1 lakh crore guarantee scheme for COVID-affected sectors. Out of this, the health care sector will get Rs 50,000 lakh crore sector.
Last week, CNBC-TV18 reported that the new stimulus package may include a scheme to promote health infrastructure in tier 2 cities and an increased Emergency Credit Line Guarantee Scheme (ECLGS) limit of Rs 4.5 lakh crore.
The government and Reserve Bank of India have together announced stimulus measures worth Rs 29,87,641 crore to revive the economy, Finance Minister Nirmala Sitharaman had said in November last year while announcing stimulus measures under Atmanirbhar Bharat Abhiyaan 3.0.
Here are the latest updates from the media briefing:
Measure 1
A total of Rs 1.1 lk cr loan guarantee scheme for sectors affected by COVID19Rs 50,000 cr to health sector for scaling up health infra
Rs 60,000 cr to other sectors
For Health sector: Maximum loan amount Rs 100 cr, max interest rate capped at 7.95 percent
For other sectors: Interest rate is capped at 8.25 percent
Coverage will be changed based on evolving needs
Measure 2
Scope of ECLGS enlarged, overall cap increased from Rs 3 lk cr to Rs 4.5 lk cr
Rs 2.69 lk cr loans disbursed under ECLGS so far to 1.1 cr units
Measure 3
Credit Guarantee Scheme launched to provide loans to small borrowers via MFIs
Max loan to individual at Rs 1.25 lakh, interest rate 2 percent below RBI prescribed rate
Focus on new loans, stressed borrowers except NPAs to be covered
Loan duration of 3 yrs under scheme
Measure 4
New scheme to revive Tourism with 100% guaranteed loans
Financial support to be extended to more than 11,000 registered tourist guides, Travel & Tourism Stakeholders (TTS)
TTS to get up to Rs 10 lakh loans under scheme
Licensed Tourist guides to get up to Rs 1 lakh loan
Measure 5
Free tourist visas to 5 lakh tourists
Scheme applicable till 31 March 2022 or till the first 5 lakh tourist visas get covered, whichever is earlier
One tourist can avail benefit only once
Measure 6
AatmaNirbhar Bharat Rozgar Yojana extended from 30 June 2021 to 31 March 2022
More than 21.4 lakh people of nearly 80,000 establishments have already benefited from the scheme
Measure 7
Farmers to get additional protein-based fertilizer subsidy of nearly Rs 15,000 cr
Measure 8
Free food grains will be provided to the poor from May to November 2021 under Pradhan Mantri Garib Kalyan Anna Yojana
Total financial implication nearly Rs. 94,000 cr, making the total cost of PMGKY nearly Rs. 2.28 Lakh Crore
First Published: Jun 28, 2021 1:02 PM IST
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