Loan guarantee scheme of Rs 1.1 crore announced
New Delhi: Union Finance Minister Nirmala Sitharaman has announced some economic reliefs on Monday amid the Corona period. The government has announced 8 economic relief measures. The Finance Minister has announced a loan guarantee scheme of Rs 1.1 lakh crore for the sectors affected by Corona in the press conference. Under the scheme, a loan guarantee of Rs 50 thousand crore is being given to the health sector, while Rs 60 thousand crore is being given to other sectors. Under this, loans up to Rs 100 crore will be given at 7.95 percent interest. Whereas for other sectors the interest rate will not exceed 8.25%.
Finance Minister Nirmala Sitharaman said that there is a credit guarantee scheme for 3 years. Loan facility will be given to small lenders. Help will be given to 11 thousand tourist guides. The Finance Minister announced measures to give relief to the tourism sector. Travel agencies will get loans up to Rs 10 lakh, tourist guides will get loans up to Rs 1 lakh.
Important decisions and plans
There is a loan guarantee scheme of Rs 1.1 lakh crore for the sectors affected by Covid and Rs 50,000 crore has been kept for the health sector.
The emergency loan guarantee scheme is being increased from Rs 3 lakh crore to Rs 4.5 lakh crore.
There is a loan guarantee scheme through micro finance institutions, with a target to reach 25 lakh small borrowers. In this, a maximum loan of 1.25 lakh will be given to a person. The interest rate will be 2% less than the maximum interest rate fixed as per the RBI guidelines.
The new guarantee scheme will reach even the smallest borrowers in the hinterland including small towns.
Once international travel resumes, the first 5 lakh tourists to India will not have to pay visa fee. They will get free visa. The scheme will be limited to the first five lakh tourists or will be applicable till March 31, 2021, whichever is earlier.
To revive tourism, more than 11,000 registered tourist guides and other stakeholders will be given financial assistance
Atmanirbhar Bharat Rozgar Yojana has now been extended from 30th June, 2021 to 31st March, 2022. More than 21.4 lakh people from around 80,000 establishments have already benefitted from the scheme.
Minister of State for Finance Anurag Thakur informed that farmers will get additional protein based fertilizer subsidy of about Rs 15,000 crore.
Under the Pradhan Mantri Garib Kalyan Anna Yojana, NFSI beneficiaries will continue to be given 5 kg of free food grains till November 2021. The financial expenditure on distribution of free ration to poor people this year will be Rs 93,869 crore. The total money spent on Pradhan Mantri Garib Kalyan Anna Yojana will be Rs 2,27,841 crore.
