Snapshot of Economic Relief Package related announcements

Economic Relief Package

  • Rs 1.1 Lakh Crore Loan Guarantee Scheme for COVID affected sectors announced. Rs 50000 crore for the Health sector and Rs 60000 crore for other sectors.
  • Government to provide an additional Rs 1.5 lakh crore under the Emergency Credit Line Guarantee Scheme (ECLGS).

  • Government announces Credit Guarantee Scheme to facilitate loans to 25 Lakh persons through MFIs.

  • In order to help revive the tourism sector, financial support will be provided to more than 11,000 registered tourism stakeholders.

  • In order to help revive the tourism sector, tourist visas will be issued free of cost to five lakh tourists til 31 March 2022.

  • An additional amount of Rs. 23,220 crore would be spent on Public Health with special emphasis on children and paediatric care.

  • It has been proposed to provide additional corpus to the National Export Insurance Account (NEIA) Trust over five years to allow it to underwrite additional Rs. 33,000 crore of project exports.

  • It has been proposed to infuse equity in Export Credit Guarantee Corporation (ECGC) over five years to boost export insurance cover by Rs. 88,000 crore.

  • An additional amount of Rs. 19,041 crore will be provided to ensure broadband connectivity for every village.

  • To incentivise reforms in the power sector, it has been decided to provide Rs 3.03 lakh crore for Reform Based Result Linked Power Distribution Scheme.

  • New policy will be formulated for appraisal and approval of PPP proposals and monetization of core infrastructure assets, including through InvITs.

  • Twenty one Climate Resilient Special Traits varieties of rice, peas, millet, maize, soyabean, etc. will be dedicated to the nation in order to fight malnutrition and improve farmers’ income.

  • Rs 77.45 crore have been proposed for financial restructuring and infusion of funds for the revival of North Eastern Regional Agricultural Marketing Corporation (NERAMAC).

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Read more at: Announcements By Finance Minister: Economic Package for Travel Sector and Tourism

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