New Delhi: Union Finance Minister Nirmala Sitharaman today announced as many as eight sets of economic relief measures, including one on health infrastructure, of the Narendra Modi government amid the ongoing Covid pandemic. These measures worth Rs 6,28,993 crore. “Economic Relief Measures announced for various sectors. Total: Rs 6,28,993 crore,” Ministry of Finance said on Monday.Also Read - Uddhav Thackeray Drives Towards Raj Bhavan To Submit Resignation As Maharashtra CM | Watch
As part of the measures, the Central government announced 1.1 lakh crore Loan Guarantee Scheme for Covid affected sector, including Rs 50,000 crore for Health Sector. Enlarging the scope of the Emergency Credit Line Guarantee Scheme (ECLGS), the Central government announced additional 1.5 lakh crore. The scheme was launched as part of Atma Nirbhar Bharat package in May, 2020. Also Read - Rebel Shiv Sena MLAs Arrive In Goa, To Depart For Mumbai In Few Hours
Under the 1.1 lakh crore Loan Guarantee Scheme for Coronavirus affected sector, Rs 50,000 crore coverage for health sector, aimed at upscaling medical infrastructure targeting underserved areas, Rs 60,000 crore for other sectors, the Ministry of Finance said. Also Read - Maharashtra Crisis Live: Uddhav Submits Resignation to Governor After Resigning From CM’s Post
Here Is Breakup of Modi Government’s Rs 6,28,993 Crore Covid Economic Relief Measures
- Loan Guarantee Scheme for COVID Affected Sectors – Rs 1,10,000 Crore.
- Emergency Credit Line Guarantee Scheme (ECLGS) – Rs 1,50,000 Crore.
- Credit Guarantee Scheme for Micro Finance Institutions – Rs 7,500 Crore.
- Free One Month Tourist Visa to 5 Lakh Tourists – Rs 100 Crore.
- Additional Subsidy for DAP & P&K fertilizers – Rs 14,775 Crore.
- Free food grains under PMGKY from May to November, 2021 – Rs 93,869 Crore.
- New Scheme for Public Health – Rs 15,000 Crore.
- Revival of North Eastern Regional Agricultural Marketing Corporation (NERAMAC) – Rs 77 Crore.
- Boost for Project Exports through NEIA – Rs 33,000 Crore.
- Boost to Export Insurance Cover – Rs 88,000 Crore.
- Broadband to each village through BharatNet PPP Model – Rs 19,041 Crore.
- Reform Based Result Linked Power Distribution Scheme (Budget Announcement) – 97,631.
- Total – 6,28,993 Crore.
“Credit Guarantee Scheme launched to provide loans to small borrowers, via Micro Finance Institutions. Maximum loan to individual is 1.25 lakh, interest rate 2 per cent below RBI prescribed rate. Focus on new loans, stressed borrowers except NPAs to be covered. Loan duration is 3 years,” FM Sitharaman said.
Once tourist visa issuance is resumed, first 5 lakh tourist visas to be issued totally free of charge. Will apply till 31 March 2022 or till the first 5 lakh tourist visas get covered, whichever is earlier. One tourist can avail benefit only once, FM Sitharaman said.
“Aatma Nirbhar Bharat Rozgar Yojana was launched to incentivize job creation and restoration has now been extended from June 30 2021 to 31 March 2022. More than 21.4 lakh people of nearly 80,000 establishments have already benefited from the scheme,” FM Sitharaman said.
“Rs. 23,220 Crore for public health, with a sharp focus on child & paediatric care. The Amount to be spent in this financial year itself. This Will include HR augmentation to rope in medical students, nurses; strengthening of infra like ICU beds, ambulances, O2 supply, 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.