GUWAHATI: Finance Minister (FM) of India Nirmala Sitharaman announced a host of measures on November 12.
Rs 18,000 crores will be provided over and above the budget estimate which was mentioned in the Budget 2020-21 under Pradhan Mantri Awas Yojana particularly for the urban areas. "This extra budgetary resource being provided will help 12 lakh houses to be grounded & 18 lakh houses will get completed as a result," added the FM.
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Along with that, 10 new champion sectors will now be covered under the Production Linked Incentives Scheme to boost the competitiveness of domestic manufacturing. It is expected to give a significant boost to economic growth and domestic employment.
A guarantee support scheme will be done for healthcare sector and 26 sectors stressed due to COVID-19. The government further launched credit guarantee support scheme for healthcare sector and 26 sectors stressed due to COVID-19. Entities will get additional credit up to 20% of outstanding credit, repayment can be done in five years' time (1 year moratorium + 4 years repayment).
The FM also stated that, "We are now giving Rs 6,000 crores of Equity to Debt Platform of NIIF (National Infrastructure & Investment Fund) where private equity participation will also come in. NIIF itself has invested Rs 2000 crores."
Rs 900 crores provided for COVID Suraksha Mission for research and development of the Indian COVID vaccine to the Department of Biotechnology and Rs 3,000 crores will be released to EXIM Bank for promotion of project exports through Lines of Credit under IDEAS Scheme.
An additional outlay of Rs 10,000 crores will be provided for PM Garib Kalyan Rozgar Yojana in the current financial year, to boost rural employment.