FM’s Over ₹6 Lakh Crore-Economic Relief Package

  • The finance minister announced a ₹1.1 lakh crore loan guarantee scheme for sectors, which are affected by COVID-19.
  • ₹50,000 crore health sector guarantee coverage will be given for non-metros medical infrastructure while ₹60,000 crore in addition for other sectors.
  • As part of Atmanirbhar Bharat package, FM announced an additional ₹1.5 trillion for Emergency Credit Line Guarantee Scheme.
  • FM has increased ECLGS scheme limit to ₹4.5 trillion.
  • FM has announced financial support to over 11,000 registered tourist guides, travel and tourism stakeholders
  • Under the new loan guarantee scheme, working capital/personal loans will be offered to people in the tourism sector to discharge liabilities and restart business impacted because of COVID-19.
  • Working capital/personal loans will be offered with a 100% guarantee to people in the tourism sector.
  • The first five lakh tourist visas to India will be free of cost, costing the government ₹100 crore.
  • The Atmanirbhar Bharat Rozgar Yojna has been extended until March 31, 2022.
  • PM Garib Kalyan Ann has been extended by the government till November 2021.
  • The Centre has announced ₹23,220 crore additional amount to be spent on this financial year to increase ICU beds, oxygen supply at central and district levels.
  • The new scheme will focus on short-term emergency preparedness with a special emphasis on children and paediatric care.
  • ICAR has developed bio-fortified crop varieties and these will help boost farmers’ income.
  • The North Eastern Regional Agricultural Marketing Corporation will get a fund infusion of ₹77.45 crore for financial restructuring and revival.
  • Project exports via the National Export Insurance Account will get a ₹33,000-crore boost over the next five years.
  • The Centre will also be injecting more equity in Export Credit Guarantee Corporation of India (ECGC) to enable it to extend ₹88,000 crore in export insurance.
  • The government has extended the tenure of the PLI scheme for large-scale electronics manufacturing by a year till 2025–26.
  • Under the scheme, participating companies will be allowed to choose any five years to meet the production targets.

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