To boost the economy affected by the second wave of Corona, Rs. 4.5 lakh crore package

(PTI) New delhi date. 28

Finance Minister Nirmala Sitaram has announced an incentive package of Rs 2.5 lakh crore to help sectors including health, MSMEs, tourism and exports to boost the economy affected by the second wave of Corona. The first five lakh tourists have been exempted from visa fees to boost the tourism sector.

The Finance Minister has made these announcements to revive the economy at a time when the second wave of Corona in April and May at the beginning of the current financial year has put the economy in trouble along with the common man. Lack of medical services, lack of oxygen and medicines were the main problems during this time.

It has announced additional loans of Rs 1.5 lakh crore for small and medium enterprises. An additional Rs 4,500 crore has been announced to provide special beds for children in the third wave of Corona.

Sitaram has announced a loan guarantee scheme of Rs 1.1 crore for the Koro-affected sector and a loan of Rs 100 crore for the health sector at 7.5 per cent.

Nirmala Sitaram had announced that an additional fertilizer subsidy of Rs 12.5 crore would be provided. Earlier in the budget, it had announced a subsidy of Rs 4,616 crore.

The government will spend Rs 4.5 crore to provide free foodgrains. Rs 15,000 crore will be allocated for health and Rs 12,021 crore for broadband connectivity in rural areas.

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* Kovid has announced a loan guarantee scheme of Rs 1.1 lakh crore for the affected sector. Of this, Rs 50,000 crore has been earmarked for the health sector and Rs 60,000 crore for other sectors.

* Rs 1.5 lakh crore has been announced for Emergency Credit Line Guarantee Scheme (ELGS). The scheme was launched last year under a self-contained package.

* Guarantee limit under ELGS has been increased from Rs 3 lakh crore to Rs 4.5 lakh crore.

* Under the credit guarantee scheme, loans up to Rs 25 lakh will be provided by micro finance institutions for three years.

* 75 per cent of the default amount will be guaranteed for three years under the National Credit Guarantee Trustee Company (NCGTC) under the Credit Guarantee Scheme.

* Sitaram will be provided financial assistance to 11000 registered tourist guides, travel and tourism stakeholders to promote the tourism sector. The scheme will cover 10,700 regional level tourist guides accredited by the Ministry of Tourism. The scheme will also cover Travel and Tourism Stakeholders (TTS) recognized by the Ministry of Tourism.

* The first five lakh tourists will be given free tourist visas. The scheme will remain in force till March 31, 2022, whichever is earlier.

* Self-reliant India Employment Scheme has been extended till March 31, 2022. The scheme was launched on October 1 last year. Under this scheme, Rs 22,810 crore will be allocated for an estimated 58.50 lakh larvae. The last date for registration under this scheme is June 30, 2021.

* The term of the Prime Minister's Poor Welfare Food Scheme has been extended till November, 2021. Under this scheme, NFSA beneficiaries will be provided five kg of foodgrains free of cost.

* The scheme was launched in April-June 2020 last year and was extended till November, 2020. The scheme was relaunched in May, 2021 due to the second wave of Corona. The estimated cost will be Rs 93,869 crore and the total cost of PMGKY will be Rs 2,27,841 crore.

* An additional Rs 23,000 crore will be allocated for public health. This amount will increase the number of ICU beds and oxygen supply. An additional amount of Rs 23,200 crore will be allocated for next year.

* North Eastern Regional Agricultural Marketing Corporation (NERAMAC) will be revived.

* Rs 80,000 crore will be allocated for promotion of export insurance cover.

* Rs 19,041 crore will be allocated for broadband network in each village. The Central Government has proposed to upgrade and expand BharatNet. Under which the objective is to cover all the villages and gram panchayats.

* Extension of PLI scheme for large scale electronic manufacturing. The term of this scheme has been extended till the year 2025-16. Incentives ranging from four to six per cent are given under this scheme.