Another relief package of Modi government, 1.1 lakh crore announced for the Covid affected sector

In order to blow new life in the economy affected by Corona Pandemic, the Modi government has announced another relief package. It has been focused on sectors and health sectors affected by Corona. Finance Minister Nirmala Sitharaman has announced Rs 1.1 lakh crore for the Kovid-affected sector. Apart from this, 50 thousand crores have been announced for the health sector. These funds will be spent for non-metro medical Infra.

The Finance Minister has announced to increase funding for Emergency Credit Line Guarantee Scheme (ECLGs) to support small industries. This scheme is worth Rs 3 lakh crore, which has increased to 4.5 lakh crore. Under this scheme, SME, Hospitality Sector has been distributed to Rs 2.69 lakh crore.

Apart from this, the credit guarantee scheme has been announced for the loan given through the Micro Finance Institution. This is a new scheme. Under this, the MFI of the Commercial Bank will be given to the new and existing loan. This scheme is expected to benefit 25 million people.

At the same time, the expansion of self-reliant India employment scheme has been done up to 31 March 2022. Under this scheme, the government will fill the central government of both PF's employer and Employees in the Strength companies of 1000 employees. In more than 1000 Employees companies, 12% of the Amploi for PF will bear the Government.

Finance Minister Nirmala Sitharaman said that this time 8 economic relief packages will be announced. He said that four of these are absolutely new and for a particular health infrastructure. Many sectors are in crisis from the second wave of Corona, and the government is being demanded continuously. In the past, the government had also indicated that the government is thinking for those sectors. Which are in the most crisis.

It is worth mentioning that the Central Government had announced a self-reliant India package to overcome Economy affected by Corona epidemic last year. This relief package of the government was worth 27.1 lakh crore, which was more than 13 percent of the total GDP.