Announcing a new relief package, Finance Minister Nirmala Sitharaman has announced a guarantee scheme for loans up to Rs 1.25 lakh for existing and new small borrowers. About 25 lakh people will get direct benefit from this.
New Delhi. Union Finance Minister Nirmala Sitharaman today announced a new relief package in view of the economic situation arising due to the Corona crisis. Under this, he announced a loan guarantee scheme of Rs 1.1 lakh crore for the Kovid affected sectors. Along with this, an Additional Emergency Credit Line Guarantee Scheme (ECLGS) of Rs 1.5 lakh crore has been announced. The Finance Minister announced that under the Credit Guarantee Scheme, more than 25 lakh people affected by Kovid-19 will be given a loan of Rs 1.25 lakh for 3 years.
Interest will be 2 percent more than the fixed MCLR for banks
Announcing the scheme, the Finance Minister made it clear that the interest on this loan will be 2 percent more than the MCLR fixed for banks. He said that 25 lakh people will get the benefit of this loan through micro finance institutions. Apart from this, he said that a loan guarantee of Rs 50,000 will be available for healthcare. In this, 50 percent guarantee coverage will be available for expansion and 75 percent guarantee coverage will be available for new projects. In this, a maximum loan of Rs 100 crore will be available for 3 years. The maximum interest rate on this will be 7.95 percent. At the same time, the maximum interest rate for other sectors has been kept at 8.25 percent. Its coverage will be changed according to the need. The normal interest rate without guarantee is 10 to 11 percent.
‘Employees and employers will continue to get EPF support’
FM Nirmala Sitharaman has also announced financial assistance to 11,000 registered tourist guides and stakeholders in the travel and tourism sector through this relief package. Licensed guides will get 100% guaranteed loan up to Rs 1 lakh and accredited travel and tourism stakeholders up to Rs 10 lakh. There will be no processing fee on this. At the same time, free tourist visa has also been announced for the first 5 lakh tourists. Under the Atmanirbhar Bharat Rojgar Yojana, EPF support to employees and employer companies will now be available till 31 March 2022. This scheme was started in October 2020. 58.50 lakh people will get the benefit of the scheme. Rs 22,810 crore has been allocated for this. The last date for registration for this is 30 June 2021.
