Finance Minister Announces Eight New Packages for Economic Revival

Story Highlights
  • Relief pertaining to the sectors affected by the second wave was announced
  • Eight New Schemes announced
  • Growth, exports and employees are the sectors the centre added

New Delhi: Addressing a press conference at 3 pm on Monday, June 28, Finance Minister Nirmala Sitharaman announced economic relief measures for sectors affected by the second wave of the pandemic. 

Following are the announcement made at the press conference

At the earliest, she announced a relief of Rs 1.1 lakh crore for COVID affected sectors. 

Emergency Credit Line Score Guarantee scheme 

Under this scheme, all affected sectors are promised a credit of Rs 1.5 lakh crore. Additionally, the Emergency credit line guarantee bar is also raised from 3 lakh crore to Rs 4.5 lakh crore. This scheme will cover around 25 lakh people through micro-financing institutions. The guarantee will be provided to Scheduled Commercial Banks for loans to new or existing NBFC-MFIs or MFIs for on-lending up to ₹ 1.25 lakh to approximately 25 lakh small borrowers. 

Health Sector

A sum of Rs 50,000 is secluded for upgrading the health care infrastructure. Additionally, a sum of Rs 23,220 crore was announced to cater short term emergency preparedness with an emphasis on children, paediatric care  

Travel and Tourism Sector 

Free 5 lakh tourist visas have been announced, where only 1 visa would be issued per tourist. The scheme can be availed from March 31, 2022, and is valid until five lakh visas are issued.  Additionally, financial support is announced to cover 11,000 tourist guides, travel, tourism stakeholders. 

Extension of the PMGKY

 The total cost of  Pradhan Mantri Garib Kalyan Yojana (PMGKY) now stands at  2,27,841 crore. As announced earlier by the PM, the PMGKY was extended till November 2021 from May in the wake of the second wave of COVID-19. 

Nutrient Based Subsidy 

 Additionally, ₹ 14,775 crores nutrient-based subsidy is dedicated for the farmers.

Extension of PLI (Production linked incentive) Scheme 

The centre extended the PLI scheme for large scale electronics manufacturing by one year until 2025-26. 

 Extension of Atmanirbhar Bharta Rozgar Yojana

The Atmanirbhar Bharta Rozgar Yojana is extended from June 30, 2021, to March 31, 2022

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