FM Sitharaman announces 8 new schemes to boost economy: Key points
Union finance minister Nirmala Sitharaman on Monday announced eight economic relief measures for sectors which have been hit hard by the second wave of the Covid-19 pandemic. Tourism and health sectors were the primary focus of the announcements made by Sitharaman.
Here are some key announcements made by the finance minister:
(1.) Atmanirbhar Bharat Rozgar Yojana extended till March 31, 2022, from June 30, 2021. “More than 21 lakh people from 80,000 establishments have already benefited,” Sitharaman said.
(2.) The government has extended the scope of the emergency credit line guarantee scheme. As such, ₹1.5 lakh crore have been added to the existing corpus of ₹three lakh crore.
(3.) A completely new credit guarantee scheme to facilitate loans to 25 lakh people through micro finance institutions (MFIs) has also been announced.
(4.) Lending of up to ₹1.25 lakh announced with the focus on new lending and not on repayment of old loans. All borrowers (including defaulters up to 89 days) are eligible.
(5.) On the resumption of international travel, visas will be provided free of cost to the first five lakh travellers coming to India. Scheme applicable till March 31, 2022, or will be closed upon the completion of the five-lakh quota.
(6.) A new loan guarantee scheme will support 10,700 regional-level tourist guides, as well as travel and tourism stakeholders. However, these should be recognised by the Union ministry of tourism and the respective state governments.
(7.) A financial expenditure of ₹93,869 crore will be used for the distribution of ration to poor people. This will take the total money spent on Pradhan Mantri Garib Kalyan Anna Yojana to ₹227,841 crores.
(8.) ₹23,220 crore have been allotted for public health, with special focus on paediatric care. The money will be used in the current financial year itself.
(9.) An additional protein-based fertilizer subsidy of nearly ₹15,000 crores for farmers.