Union Finance Minister Nirmala Sitharaman.
In a major relief to the sectors affected by the COVID pandemic, Finance Minister Nirmala Sitharaman on Monday made some big ticket economic announcements. Addressing a press conference in New Delhi, Sitharaman said that the government has approved a loan guarantee scheme of Rs 1.1 lakh crore for the COVID-19 affected areas.
Another Rs 50,000 crore has been earmarked for health sector coverage, aimed at augmenting medical infrastructure targeting underserved areas.
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Sitharaman said the government has also promised Rs 60,000 crore for other sectors.
Apart from these, another Rs 23,220 crore has been allocated for the public health sector. It will focus on short-term emergency preparedness with special emphasis on children and pediatric care/pediatric beds.
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The Finance Minister said that the Atmanirbhar Bharat Rozgar Yojana has now been extended from June 30, 2021 to March 31, 2022. More than 21.4 lakh people from around 80,000 establishments have already benefitted from the scheme. With a sanctioned outlay of Rs 22,810 crore, the scheme provides subsidy for two years to new employees earning a monthly salary of less than Rs 15,000.
The government will subsidize both the employer and employees’ share of provident fund (PF) contribution, which is 24 per cent of wages for an establishment with a strength of 1,000 employees.
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