Key relief measures addressed by FM Nirmala Sitharaman at the press conference today

On June 28, Finance Minister Nirmala Sitharaman announced eight relief measures of which four are completely new including a measure solely dedicated to health infrastructure.

The eight relief measures addressed are as follows: 

  • Loan guarantee of 1.1 lakh crore will be provided to areas affected by COVID-19 particularly. The health sector will cover ₹50,000 crore and other sectors will get ₹60,000 crore.
  • Emergency Credit Line Guarantee Scheme which was launched as a part of Atma Nirbhar Package in the month of May, 2020 will receive an additional 1.5 lakh crore.
  • A new scheme where guarantee will be provided to Scheduled Commercial Banks for loans to new or existing or existing NBFC Micro Finance Institutions (MFIs) or lending up to ₹1.25 lakh lakh to approximately 25 lakh small borrowers.
  • A new scheme where the focus will be on reviving the tourism sector while providing financial support to above 11,000 registered tourist guides or travel and tourism stakeholders.
  • Pertaining to tourism as well, once the issuance of Visa is restarted, the first five lakh tourists will be issued free of charge. The scheme will be applicable till March 31, 2022 or until 5,00,000 visas are issued, whichever is earlier.
  • Atmanirbhar Bharat Rozgar Yojna which was launched on 1st October 2020 is extended from 30th June 2021 to 31st March 2022.
  • An additional subsidy for DAP & P&K fertilizers was announced a couple of days ago as well. Record procurement of 432.48 lakh MT of wheat in Rabi Marketing Season (RMS) 2021-22 have increased against 389.92 lakh MT in RMS 2020-21 despite the pandemic. A total of ₹85,413 crore has been directly paid into the accounts of farmers for the RMS only.
  • Recalling the Prime Minister’s announcement after last year’s lockdown was imposed, the Pradhan Mantri Gareeb Kalyan Anna Yojna (PMGKAJ) has been extended. It was launched on 26th March 2020 and initially for the period from April to June 2020. It was extended first till November 2020.
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