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FM Sitharaman Announces 8 Schemes To Boost Economy; Focus On Health And Tourism

The Finance Minister also announced an extension of Aatma Nirbhar Bharat Rozgar Yojana (ABRY) till 31st March 2022. Since October 2020, she said, about 21.42 lakh beneficiaries of 79,577 establishments have already been benefitted from the scheme.

Union Finance Minister Nirmala Sitharaman on Monday announced eight new schemes, in a bid to boost up the economy with a special focus on the health and tourism sector.

These measures come at a time when the economy is in dire need of a stimulus, thanks to the devastation caused by the virus.

For the tourism sector, Sitharaman promised support in the form of a Rs 10 lakh loan to travel agencies and a Rs 1 lakh loan to close to 11000 registered tourist guides. The finance minister also said that tourist visas will be provided free to the first 500,000 tourists when the process begins. The visa scheme will be valid till March 31, 2022.

The Finance Minister also announced an extension of Aatma Nirbhar Bharat Rozgar Yojana (ABRY) till 31st March 2022. Since October 2020, she said, about 21.42 lakh beneficiaries of 79,577 establishments have already been benefitted from the scheme.

The scheme, launched in October last year, incentivizes employers for the creation of new employment along with social security benefits and restoration of loss of employment during the pandemic.

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Rs 1.1 lakh crore loan guarantee scheme for COVID-affected sectors has also been announced. This loan guarantee scheme includes Rs 50,000 crore for the health sector and Rs 60,000 crore for other sectors.

The Emergency Credit Line Guarantee Scheme (ECLGS) given as part of the Aatmanirbhar Bharat Package has been extended by another Rs 1.5 lakh crore.

The Finance Minister also announced an additional Rs 23,220 crore for short-term emergency preparedness with an emphasis on pediatric care, given the anticipation of a third wave being round the corner. This is on top of Rs 15,000 crore provided in the budget.

 

 

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