Union Council of Ministers giving a green signal for a loan assurance for Coronavirus affected sectors in the country and raising the collection of Finance Ministry’s ECLGS scheme, PM Modi stated on June 30 that it will offer extra monetary help to key projects in different areas, particularly in medical services and public healthcare. The Union Council of Ministers led by Prime Minister Narendra Modi sanctioned the emergency credit line guarantee scheme, empowering subsidizing to the tune of 50,000 crore rupees to give monetary assurance cover to brownfield foreign direct investment and greenfield projects.
It has likewise given a green signal for the presentation of a plan for different areas and moneylenders, including those united to better medical services, other than extra subsidizing up to 1.5 lakh crores rupees under the ECLGS scheme. Prime Minister Modi also stated that “A significant Union Cabinet ministers choice that will offer extra monetary help to many projects identifying with different sectors especially in the country”.
As a component of the bundle package to help the Coronavirus pandemic-hit nation economy, Ministry of Finance, Nirmala Sitharaman had on the 28th of June reported 1,50,000 crore of extra credit for MSMEs, more assets for the medical care sector, loans to the travel industry offices and guides, and waiver of visa expense for international tourists.