Union Finance Minister Nirmala Sitharaman announces economic relief measures to Covid-affected sectors

The Centre has announced huge financial assistance to various sectors affected by the coronavirus second wave. Union Finance Minister Nirmala Sitharaman has announced that the centre will guarantee loans of Rs1,10,000 crore. Of which Rs. 50,000 crore stipulated for health sector and remaining Rs.60,000 crore for other sectors. and Rs. To finance small and medium enterprises, the centre has increased the ECLGS scheme limit from Rs. 3 lakh crore to Rs. 4.5 lakh crore.

The centre has revealed the issue of lending by small financial institutions. Union Finance Minister Nirmala Sitharaman said the loan of maximum Rs 1.25 lakh would be given to an individual. Also, the centre revealed that it intends to give more loans to newcomers. The center has also provided a boost to the tourism sector, which has suffered the most due to the coronavirus second wave and assured of loan guarantee to those who are partners in this field.

The centre announced a one hundred percent guarantee for loans up to one lakh in the sector. Union Finance Minister Nirmala Sitharaman has announced that the new loan guarantee scheme introduced by the Center will also benefit those in small towns.

The centre also announced that after the resumption of international travel, the first 5 lakh tourists coming to India will have their visa fees waived. The scheme is applicable till March 31, 2022 or for the first 5 lakh visas. A tourist can avail this benefit only once.

Minister Nirmala Sitharaman has announced that the Atmanirbar Bharat Rozgar project announced after covid First Wave will be extended from June 30, 2021 to March 31, 2022 with 58.50 lakh people would benefit through this scheme with Rs.22,810 crore. The minister said That in companies with less than a thousand employees, the EPFO's share of employees and employers is paid entirely by the centre. "The centre pays only the employee share for companies with more than a thousand employees; already 21.42 crore beneficiaries have availed Rs. 902 crore," the union minister asserted.