FM Nirmala Sitharaman Press Conference LIVE Updates: Finance minister Nirmala Sitharaman addresses media on Monday to announce various economic relief measures. Sitharaman announced a host of economic measures on June 28.
Union Finance Minister Nirmala Sitharaman today announced eight sets of economic relief measures, including one on health infrastructure, amid the ongoing Covid pandemic. As part of the measures, the Central government announced 1.1 lakh crore Loan Guarantee Scheme for Covid affected sector, including Rs 50,000 crore for Health Sector. Enlarging the scope of the Emergency Credit Line Guarantee Scheme (ECLGS), the Central government announced additional 1.5 lakh crore. The scheme was launched as part of Atma Nirbhar Bharat package in May, 2020.
Live updates of the FM speech
4:06 pm:For Tourism Sector
Finance Minister today announced severeal measures for tourism sector
-Loan guarantee support for stakeholders in the tourism sector
-Loan of up to Rs 10 lakh per travel and tourism agency at 100% guarantee
-Loan of up to Rs 1 lakh per tourist guide at 100% guarantee
3:26 pm: New Credit Guarantee Scheme Announced
The finance ministry announced credit guarantee scheme to facilitate loans through micro finance institutions. The maximum amount will be Rs 1.25 lakh per person. The rate 2%. The focus will be on the new lending, annoucned finance minister.
3:19 pm: The FM announced an additional Rs 1.5 lakh crore for ECLGS. So far, under ECLGS, Rs 2.69 lakh crore credit has been disbursed, she daid.
3:15 pm: The loan gurantee scheme includes Rs 50,000 crore for health sector. Interest rate on these loans is capped at 7.95%, which is much lower than the market rate, she said.
3:05 pm: The FM said today’s announcement will include eight relief measures, four of which are new. The first one is a Rs 1.1 lakh crore loan guarantee scheme for Covid affected sectors.
