New Delhi: To revive the economy battered by the second wave of coronavirus pandemic and subsequent lockdown, finance minister Nirmala Sitharaman announced eight key measures on Monday. The Centre will expand Rs 1.1 lakh crore guarantees on loans to businesses severely affected by coronavirus pandemic. Out of this, health sector will get a guarantee of Rs 50,000 crore for ramping up medical infrastructure. The Centre also increased the limit of Emergency Credit Line Guarantee Scheme (ECLGS) to Rs 4.5 lakh crore from the existing Rs 3 lakh crore. Travel and tourism sector has been severely hit by two waves of coronavirus pandemic. The central government on Monday announced once the visa for international travel will start, the first five lakh tourists will get tourist visas free of charge.
The government will also provide working capital or personal loans to people in the tourism sector to restart businesses impacted due to Covid-19.
Pradhan Mantri Gareeb Kalyan Yojana was extended from June 30, 2021 to March 31, 2022. Sitharaman also announced a credit guarantee scheme to facilitate loans to 25 lakh borrowers under micro finance institutions (MFIs). Guarantee will be provided to scheduled commercial banks for loans to new or existing NBFCs or MFIs for lending upto Rs 1.25 lakh.
