Nirmala Sitharaman announced several important decisions

Ground Report | New Delhi: Finance Minister Nirmala Sitharaman announced several important decisions on Monday to help revive the Indian economy battling the Corona epidemic. To improve the infrastructure situation in the health sector, the government has announced a credit guarantee scheme of Rs 1.1 lakh crore.

The money given under the Emergency Credit Line Guarantee Scheme (ECLGS) has been increased by 50 per cent to Rs 4.5 lakh crore for medium scale industries facing cash crunch.

Elaborating about this economic package, the Finance Minister said that eight measures have been taken to provide economic relief, while another eight decisions have been taken to bring economic growth back on track.

Nirmala has started a loan guarantee scheme of Rs 1.1 lakh crore for the areas affected by Corona including the health sector. It also includes guarantee cover for new projects.

Apart from this, he said that the limit of Rs 1.5 crore for ECLGS has been increased additionally.

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In May, 2020, when the Central Government announced a self-reliant India scheme package of Rs 20 lakh crore, a provision of Rs 3 lakh crore was made for the ECLGS scheme.

Last month, the Finance Ministry had announced the extension of concessional loan facilities to hospitals under the ECLGS scheme. This facility was given to set up an oxygen plant in the hospital premises.

Under the credit guarantee scheme, small businessmen and individual NBFCs will take loans up to 1.25 lakh from microfinance institutions. Its main purpose is to disburse new loans. Interest can be charged on this by adding a maximum of 2% on the MCLR of the bank. The tenure of this loan will be 3 years and the government will guarantee it. About 25 lakh people will get the benefit of this scheme. All types of borrowers including defaulters of 89 days will be eligible for this.

Nirmala Sitharaman said that Under the credit guarantee scheme, small businessmen, individual NBFCs will be able to take loans up to 1.25 lakh from microfinance institutions. Its main purpose is to disburse new loans. Interest can be charged on this by adding a maximum of 2% on the MCLR of the bank. The tenure of this loan will be 3 years and the government will guarantee it. About 25 lakh people will get the benefit of this scheme. All types of borrowers including defaulters of 89 days will be eligible for this.

The government will provide financial assistance to the registered tourist guides and travel tourism stakeholders affected by the Kovid epidemic. In this, a loan of Rs 1 lakh will be given to the licensed tourist guide and Rs 10 lakh to the tourist agency. This loan will be 100% guaranteed. There will be no processing charge on this loan, Nirmala Sitharaman said.

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The government will provide financial assistance to the registered tourist guides and travel tourism stakeholders affected by the covid epidemic. In this, a loan of Rs 1 lakh will be given to the licensed tourist guide and Rs 10 lakh to the tourist agency. This loan will be 100% guaranteed. There will be no processing charge on this loan.

Finance Minister Nirmala Sitharaman has taken a big step to provide relief for the tourism sector that has been broken by Corona. Modi government will first issue 5 lakh foreign tourist visas free of cost. This scheme will be applicable till 31 March 2022. Under this scheme, financial assistance of Rs 100 crore will be given. A tourist will get the benefit of the scheme only once. Foreign tourists will get the benefit of this scheme as soon as they get visa permission. About 1.93 crore foreign tourists came to India in 2019.

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