Sitharaman pronounces Rs 1.1 lakh crore mortgage assure scheme for Covid-hit sector

Finance Minister Nirmala Sitharaman on Monday introduced a slew of financial reduction measures to spice up the pandemic-hit financial system of the nation. “We are announcing about eight economic relief measures, of which four are absolutely new and one is specific to health infrastructure,” Sitharaman mentioned.
She introduced Rs 1.1 lakh crore mortgage assure scheme for Covid-affected sectors, together with well being sector, which incorporates assure cowl for growth or for brand spanking new initiatives. Besides, a further Rs 1.5 lakh crore restrict enhancement was additionally introduced for Emergency Credit Line Guarantee Scheme (ECLGS) scheme increasing the prevailing restrict of Rs 3 lakh crore by 50%.
Sitharaman additionally mentioned that authorities will present free visas to five lakh vacationers visiting India and that monetary help could be supplied to greater than 11,000 registered vacationer guides, journey and tourism stakeholders.
Here’s what all had been introduced:
# Rs 50,000 crore for well being sector. A assure protection of fifty% for growth of well being associated initiatives and 75% for brand spanking new initiatives.
# A 50% assure protection for aspirational districts in case of each growth and new initiatives.
# Up to Rs 100 crore mortgage at 7.95% to well being sector.

ECONOMIC RELIEF MEASURES bulletins by Hon. FM @nsitharaman
Thread of All Measures
• Health Sector pic.twitter.com/o4e6Jqr9co
— Office of Mr. Anurag Thakur (@Anurag_Office) June 28, 2021
# # Rs 23,220 crore to be supplied for paediatric care/paediatric beds at hospitals.
# As many as 25 lakh folks will likely be benefitted beneath ECLGS. A most Rs 1.25 lakhs quantity will likely be lent to the smallest debtors by micro-finance establishments. “Focus is on new lending & not on repayment of old loans,” Sitharaman added.

# Government may even lengthen Atmanirbhar Bharat Rozgar Yojana to foot employer, worker’s share of post-retiral profit of recent hires by personal firms
# Free foodgrain to poor until November 2021 to take whole value of Pradhan Mantri Gareeb Kalyan Anna Yojana to Rs 2.27 lakh crore
# Additional Rs 14,775 cr fertilizer subsidy to be supplied over and above Rs 85,413 cr budgeted.