Nirmala Sitharaman announced 1.1 lakh crore Loan Guarantee Scheme
Nirmala Sitharaman announced 1.1 lakh crore Loan Guarantee Scheme for scaling up the health sector and other sectors which are affected by COVID – 19. Ministry of Finance announced 8 economic relief measures to revive the economy from coronavirus. Rs 50,000 crore announced for health infrastructure under which easy credits will be provided to new investors, 50 percent guarantee coverage for health-related projects, and 75 percent will be on new projects. Rs 23,220 crore will be provided to hospitals for pediatric beds and a 7.95 percent interest rate capped by the government on health sector loans. Rs 60,000 crore announced for other affected sectors due to COVID – 19. Under Credit Guarantee Scheme 25 lakh people will be benefitted, small businessmen can take loans up to 1.25 lakh, Rs 1.5 lakh crore limit enhancement announced for Emergency Credit Line Guarantee Scheme ( ECLGS ). Under Pradhan Mantri Greeb Kalyan Anna Yojana free ration will be provided till November 2021, 14,775 crore fertilizer subsidy announced for farmers. Ministry of Tourism will provide free visas to the first 5 lakh tourists. 11000 registered tourist guides and 10700 regional level tourist guides will be covered under this scheme. The government of India capped an 8.25 percent interest rate for other affected sectors.