Finance minister Nirm Sitharn expands scheme for Covid relief to health and tourism
NEW DELHI: Finance minister Nirm Sitharn on Monday announced a fresh set of measures to provide relief to a string of Covid-hit sectors, such as tourism and small businesses, apart from steps to boost health infrastructure, both in the private and public sector.
Her announcements were a mix of expansion of esting steps, such as increasing the size of the Emergency Credit Line Guarantee Scheme (ECLGS) from Rs 3 lakh crore to Rs 4.5 lakh crore as the limit was being reached, and fresh measures.
So far, over Rs 2.7 lakh crore loans have been sanctioned to 1.1 crore borrowers, based on the go nment guarantee, with Rs 2.1 lakh crore disbursed, financial services secretary Debasish Panda told reporters.
Another Rs 1.1 lakh crore of loans, based on a similar mechanism, has been lined up. Of this, Rs 50,000 crore will be provided to the healthcare sector.
Covid-hit sectors such as tourism will get Rs 60,000 crore loans at a mamum 8.25%, with the list of sectors to be expanded over time, Sitharn said.
Welcoming the announcements, PM Modi indicated the fund marked for the health sector would be spent to boost healthcare facilities for children in under-served areas. “The measures will help to stimulate economic activities, boost production and exports and generate employment,” he tweeted.
Tourism and hospitality sectors have for long been demanding support from the go nment, arguing that they have been hit hard as Covid has forced people to cut down travel. The Centre offered loans up to Rs 10 lakh to travel agents and Rs 1 lakh for registered tourist guides based on go nment guarantees.
Let her understand herself what she speaks then we will try to understand what she spoke
it only means that the fuels prices will soar higher and the money will be allotted with extreme conditions which won't really reach those businesses who need the most
Here she goes again.... Madam, why don't you join some economic crash course... Now toh you won't be asked to sit in an exam.. at least you will learn a little about economics.
Madams economic decisions are super, but only problem after every decision economy is shrinking.
Nirm Auntie is clueless.
What tourism? who is coming to India? who will get the money?
How will businesses pay back the loans?
The PM is an extremely decent human being, who would never ask a lady minister to step down. However, I would truly truly hope the FM would voluntarily hand in her papers so the PM along with the FM can jointly pick a competent replacement.
No one believes what you say, as we all have experienced from time to times to this time since 2014 as what you are and how you blast jhumlas to fool people. Where is the account of previously announced 20L crore jhumla package? Reduce petrol price and skyrocketing price hikes.
In Modi’s India even the covod vaccination could be spurious. Most Guajarati’s are black-marketers with no conscience.
Too early. Focus only on vaccine now
Anyone understands what she is telling?
If you want to do a favor to tourism , reduce fuel prices
The common man already burdened by House loan, car loan, AC loan, Mobile Phone loan, Refrigerator loan, all go out on EMI. Does he need any further loans?
Just dest yed India i
V For Vendetta
she's tempting distressed MSMEs to fall intto the loan trap
Humanity comes first
She was not able to manage her household financial issues, feku make her financial minister. BEEDA GRAKH
Anyone has any count of how many lakhs crores announced since April 2020!?
By the time she leave all Banks would be Bankrupt.