To revive the economy battered by COVID-19, Finance Minister Nirmala Sitharaman has announced a slew of measures, including Rs 1.1 lakh crore credit guarantee scheme for improving health infrastructure, and enhancing the limit under the ECLGS by 50 per cent to Rs 4.5 lakh crore for the MSME sector facing liquidity crunch.
Sharing the details of stimulus package, the finance minister said this comprises eight relief measures and other eight measures to support the economic growth.
She announced Rs 1.1 lakh crore loan guarantee scheme for COVID-affected sectors, including health sector, which includes guarantee cover for expansion or for new projects. We are announcing about 8 economic relief measures, of which four are absolutely new & one is specific to health infrastructure. For Covid-affected areas, Rs 1.1 lakh crores credit guarantee scheme and Rs 50,000 crores for health sector
Besides, she said, additional Rs 1.5 lakh crore limit enhancement done for Emergency Credit Line Guarantee Scheme (ECLGS) scheme.
The existing limit for ECLGS scheme, announced as part of Rs 20-lakh crore Atmanirbhar Bharat Abiyan package in May 2020, was Rs 3 lakh crore.
Atmanirbhar Bharat Rozgar Yojana has now been extended from June 30, 2021, to March 31, 2022. Over 21.4 lakh people of nearly 80,000 establishments have already benefited from the scheme.
Last month, the finance ministry expanded the scope of the Rs 3 lakh crore ECLGS by including concessional loans to hospitals for setting up on-site oxygen generation plants.
Besides, the validity of the scheme was extended by three months to September 30 and or till guarantees for an amount of Rs 3 lakh crore are issued. The last date of disbursement under the scheme has been extended to December 31.
On tourism Finance Minister said, Once international travel resumes, first 5 lakh tourists who come to India will not have to pay visa fees. Scheme applicable till March 31, 2022, or will be closed after distribution of first 5 lakh visas. One tourist can avail benefit only once,