Finance Minister Nirmala Sitharaman today announced eight new schemes to boost an economy ravaged by Covid, with a special focus on health and tourism. The measures include a 1.1 lakh crore loan guarantee scheme for the Covid-affected and an additional 1.5 lakh crore under the Emergency Credit Line Guarantee Scheme (ECLGS) that was launched as part of Atmanirbhar Bharat package last year. The announcements come at a time the country is emerging from a devastating second wave of the coronavirus and is bracing for a possible third wave.
The scheme is aimed at upscaling medical infrastructure targeting unreserved areas. Ms. Sitharaman said that the guarantee cover will be for expansion and new projects related to medical infrastructure in cities other than eight metropolitan cities.
The Finance Minister also announced 1.5 lakh crore rupees for Emergency Credit Line Guarantee Scheme, ECLGS which was launched as part of Atmanirbhar Bharat Package in May, 2020.
In another relief measure, Ms. Sitharaman announced Credit Guarantee Scheme which is a new scheme to facilitate loans to 25 lakh people through Micro Finance Institutions, MFI.
In yet another decision related to reviving the tourism sector, Ms Sithraman announced financial support to more than 11 thousand Registered Tourist Guides and Travel and Tourism Stakeholders. The Finance Minister also announced a free tourist visa to five lakh tourists.