This is the first economic relief package announced after the second wave ravaged through the country. The new economic package infuses an additional Rs 1.5 lakh crore in the existing Emergency Credit Line Guarantee Scheme (ECLGS). A new guaranteed loans scheme worth Rs 7,500 crore was announced. The export sector will be backed with indirect support, pegged at Rs 1.21 lakh crore, for five years. The government aims to propel “growth, exports and employment” and also bring economic relief to stakeholders in sectors where COVID-19 hit the worst.

Source: dna June 29, 2021 08:15 UTC