New Delhi: Finance Minister Nirmala Sitharaman Announced Rs 1.1 lakh crore on Monday credit guarantee scheme To promote development in the areas affected by the COVID-19 pandemic.
Announcing a fresh set of relief measures, Finance Minister Nirmala Sitharaman said the scheme will enable the medical infrastructure and health sector to raise loans at a lower interest rate of 8 per cent to 8.25 per cent per annum.
Of this, out of Rs 1.1 lakh crore, Rs 50,000 crore has been allocated for health sector and Rs 60,000 crore for other sectors.
Sitharaman said, “We are announcing about eight economic relief measures, out of which four are brand new and one is specific to health infrastructure. For the Covid affected areas, a credit guarantee scheme of Rs 1.1 lakh crore and Rs 50,000 crore for the health sector.”
Under this, the maximum loan amount for the healthcare sector will be Rs 100 crore with an interest ceiling of 7.95 percent. While the interest rate for other sectors has been capped at 8.25 per cent.
The scheme will cover the cost of expansion and new projects related to health and medical infrastructure in cities other than eight metros.
The center will provide guaranteed coverage of 50 per cent for expansion and 75 per cent for new projects.
In addition, an additional Rs 1.5 lakh crore has been announced under the Emergency Credit Line Guarantee Scheme (ECLGS). This is in addition to the Rs 3 lakh crore announced under the scheme last year.
Announcing a fresh set of relief measures, Finance Minister Nirmala Sitharaman said the scheme will enable the medical infrastructure and health sector to raise loans at a lower interest rate of 8 per cent to 8.25 per cent per annum.
Of this, out of Rs 1.1 lakh crore, Rs 50,000 crore has been allocated for health sector and Rs 60,000 crore for other sectors.
Sitharaman said, “We are announcing about eight economic relief measures, out of which four are brand new and one is specific to health infrastructure. For the Covid affected areas, a credit guarantee scheme of Rs 1.1 lakh crore and Rs 50,000 crore for the health sector.”
Under this, the maximum loan amount for the healthcare sector will be Rs 100 crore with an interest ceiling of 7.95 percent. While the interest rate for other sectors has been capped at 8.25 per cent.
The scheme will cover the cost of expansion and new projects related to health and medical infrastructure in cities other than eight metros.
The center will provide guaranteed coverage of 50 per cent for expansion and 75 per cent for new projects.
In addition, an additional Rs 1.5 lakh crore has been announced under the Emergency Credit Line Guarantee Scheme (ECLGS). This is in addition to the Rs 3 lakh crore announced under the scheme last year.
.