Union finance minister Nirmala Sitharaman on Monday announced a number of relief measures to reboot the economy after the unannounced second wave of the pandemic caused rampant distress.
The measures aiming at boosting healthcare infrastructure, providing credit guarantee and focusing of job creation, among others.
Here some of the major highlight of the announcement
– Rs 50,000 crore in the health sector for scaling up medical infrastructure. Additionally, the Finance Minister also announced Rs 23,220 crore for public health – the scheme is focused on short term emergency preparedness with emphasis on children, pediatric care.
– Rs 1.5 lakh crore guarantee scheme emergency credit line guarantee scheme. The overall cap of Emergency credit line guarantee scheme has also been raised from Rs 3 lakh crore to Rs 4.5 lakh crore.
– Pradhan Mantri Gareeb Kalyan Yojana was extended from June 30, 2021 to March 31, 2022. Which is now stands at Rs 2,27,841 crore.
Revival package of Rs 77.45 crore which proposes to set up Northeastern Centre for organic cultivation, facilitating equity finance for entrepreneurs.
– Rs 60,000 crore relief was announced for other sectors. The interest rate is capped at 8.25 per annum.
– Finance Minister Nirmala Sitharaman announced a credit guarantee scheme to facilitate loans to 25 lakh borrowers under micro finance institutions (MFIs). for lending upto Rs 1.25 lakh.
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