Financial minister announces 23,000 crore for public health
Financial minister Nirmala Sitaraman in a press conference held on 28 June 2021 announced some new relief measures amid economic distress caused by the the second wave of Covid -19 in the country.
As the second wave hit the country drastically, so the FM has announced this relief of 23,000 crore. As this pandemic began in March 2020, the ministry of Finance and the Reserve bank of India (RBI) had announced many measures to aid individual and business during the first wave that started in MarchAmong her announcements were further funds for the government's emergency credit guarantee scheme, increased allocation towards public health, and a replacement loan guarantee scheme to assist small borrowers.
Here are the key highlights from the finance minister's presentation:
Loan guarantees worth Rs 1.1 lakh crore to be provided for Covid-hit sectors.
Size of emergency credit guarantee scheme to be increased to Rs 4.5 lakh crore from Rs 3 lakh crore.
Government to supply guarantees to banks for lending to microfinance sector.
Loan guarantees to tend for tourism sector under the emergency credit guarantee scheme.
Free visa for first 5 lakh tourists once borders reopen.
Atmanirbhar Bharat Rozgar Yojana extended till March 31, 2022.
An additional Rs 23,220 crore has been earmarked for public health in FY22.
BharatNet plan expanded with an extra Rs 19,041 crore.
Tenure of performance-linked incentive program for electronic manufacturing extended by a year.