New Delhi: The Union Cabinet on Wednesday approved the Rs 6.29 lakh crore relief package announced by Finance Minister Nirmala Sitharaman to support the pandemic-hit economy.
Information and Broadcasting Minister Prakash Javadekar gave this information after the cabinet meeting.
As part of the package to support the economy hit by the COVID-19 pandemic, Sitharaman on Monday announced Rs 1.5 lakh crore additional loans for small and medium businesses, more funds for the health sector, loans to tourism agencies and guides and Discount was announced. of visa fee for foreign tourists.
With Rs 93,869 crore to be spent on providing free food grains to the poor till November and an additional Rs 14,775 crore fertilizer subsidy, the stimulus package, mostly made up of government guarantees for loans to banks and microfinance institutions, which they face in the COVID- 19-hit Sectors, taking the total to Rs 6.29 lakh crore.
Finance Minister provided additional funds of Rs 23,220 crore for setting up of children and pediatric care in hospitals, to prepare healthcare infrastructure to deal with any emergency arising due to children affected by the COVID-19 wave To be.
Further, to encourage employment generation, the government is committed to pay the employer and employee’s share in the Provident Fund (PF) for all new recruitments made by March 2022. Earlier, the government had paid Rs 902 crore for 21.42 lakh beneficiaries of 79,577 establishments.
With the tourism sector being hit hard by the pandemic, the minister had earlier announced financial assistance to over 11,000 registered tourists, guides, travel and tourism stakeholders, besides one-month tourist visas to five lakh tourists.
Other announcements include an additional Rs 19,041 crore to provide broadband internet cover to all gram panchayats, one-year extension of the Production-Linked Incentive (PLI) scheme for large-scale electronics manufacturing and an insurance cover of Rs 88,000 crore for goods. Cover is included. exporter.
The two announcements made by Sitharaman regarding additional subsidy of Rs 14,775 crore for DAP and P&K fertilizers and extension of Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) free food grains from May to November 2021 were earlier approved by the cabinet. Also read: MWC 2021: See the 5 biggest launches from day one, from Samsung’s One UI to the Snapdragon 888
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