FM Nirmala Sitharaman media briefing UPDATES: Economic RELIEF MEASURES worth Rs 6,28,993 crore announced for various sectors

4:38 pm: Finance Minister wraps up press conference, saying any other question outside the preview of the matter concerned will be separately taken later. 

4:25 pm: 1.1 crore 10 lakh companies have benefitted from ECLGS, informed the Finance Minister.

4:20: Economic Relief Measures worth Rs 6,28,993 crore announced for various sectors.

Economic Relief Measures
announced for various sectors

Total: Rs 6,28,993 crore

Full breakup shared below. pic.twitter.com/ytQ2QGkB0v

— Anurag Thakur (@ianuragthakur) June 28, 2021

4:03 pm: National Export Insurance Account to get additional financial support over 5 years, which will allow NEIA to under-write additional project exports worth Rs. 33,000 crore and  immediately ramp up India's capacity to extend cover to project exports.

New Credit Guarantee scheme to facilitate loans to 25 lakh persons through Micro Finance Institutions

The interest rate on loans from banks to be capped at MCLR plus 2%. Focus on new lending not repayment of old loans.

- Finance Minister @nsitharaman pic.twitter.com/hlCK9I0bfO

— PIB India (@PIB_India) June 28, 2021

3:50 pm: 21 Climate-resilient and bio-fortified special varieties of crops to be released by @icarindia, said Sitharaman.

3:40 pm: Rs. 23,220 Cr. for public health, with a sharp focus on child & paediatric care. Amount to be spent in this financial year itself.

.@FinMinIndia proposes to provide additional corpus to National Export Insurance Account over five years to allow it to underwrite additional ₹33,000 crores of project exports.

- Finance Minister @nsitharaman pic.twitter.com/IFFTFy3eJh

— PIB India (@PIB_India) June 28, 2021

This will include HR augmentation to rope in medical students, nurses; strengthening of infra like ICU beds, ambulances, O2 supply, equipment, medicines

3:30 pm: Credit Guarantee Scheme launched to provide loans to small borrowers, via Micro Finance Institutions. Max. loan to individual - ₹ 1.25 lakh, interest rate 2% below RBI prescribed rate. Focus on new loans, stressed borrowers except NPAs to be covered

ECONOMIC RELIEF MEASURES announcements by Hon. FM @nsitharaman

Thread of All Measures

• Health Sector pic.twitter.com/o4e6Jqr9co

— Office of Mr. Anurag Thakur (@Anurag_Office) June 28, 2021

3:25 pm: The new Credit Guarantee Scheme for Micro Finance Institutions has been announced, in order to reach out to smallest of the small borrowers in the hinterland, including in small towns, said the finance minister 

3: 20pm: Emergency Credit Line Guarantee Scheme extended to Rs 4.5 lakh crore. "Scope of scheme itself has been enlarged, overall cap increased from ₹ 3 lakh crore to ₹ 4.5 lakh crore," said the FM

3:15 pm: Finance Minister Nirmala Sitharaman announces Rs 1.1 lakh crore loan guarantee scheme for COVID-affected sectors.

Finance Minister Nirmala Sitharaman is all set to hold a media briefing at the National Media Centre in New Delhi at 3 pm on Monday, June 28. It is expected that Sitharaman may announce higher funding for Emergency Credit Line Guarantee Scheme. The Centre is likely to increase ECLGS funding from Rs 3 lakh to 5 lakh crore.  

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Informing about the event, the Ministry of Finance, tweeted, " FM Smt. @nsitharaman will address a Press Conference today, 28th June, 2021 at 3PM in New Delhi." 

FM Smt. @nsitharaman will address a Press Conference today, 28th June, 2021 at 3PM in New Delhi.

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— Ministry of Finance (@FinMinIndia) June 28, 2021