FM Nirmala Sitharaman Speech Highlights: Relief Measures And More

As Finance Minister Nirmala Sitharaman began her news conference, Indian stocks ended the day lower. Nifty closes below 15,850, and the Sensex drops 189 points.

• PPP projects and asset monetization would be expedited under a new methodology announced by FM.
• According to FM, the total outlay for the Digital India program has reached Rs 61,109 crore.
• FM announces that the PLI plan for large-scale electronics production will be extended.
• The Reform-based Result-linked Power Distribution Scheme will provide assistance to discoms of Rs 3.03 trillion.
• To enable it to issue Rs 88,000 crore in export insurance, the government will inject more equity into ECGC.
• Farmers in the Northeast should expect a 10-15% increase in the price of their products, according to FM.
• The North Eastern Regional Agricultural Marketing Corporation would receive a cash injection of Rs 77.45 crore to help it with financial restructuring and revitalization.
• FM announces plans to double farm revenue, providing a boost to GDP and employment. ICAR has created bio-fortified crop varieties with high levels of protein, iron, zinc, and vitamin A.
• The government will spend Rs 23,220 crore on paediatric treatment this year.
• The new program focuses on short-term emergency preparedness, with a focus on children and pediatric care.
• Gareeb Pradhan Mantri From May through November 2021, the Kalyan Anna Yojana will offer NFSA beneficiaries 5 kilograms of free food grains.
• An additional subsidy of Rs 14,775 crore will be provided for DAP and NPK fertilisers.
• The Atmanirbhar Bharat Rozgar Yojana would be extended until March 31, 2022.
• After the process begins, the first 500,000 tourists will receive free tourist visas.
• Relief measures are being extended by the government to help the tourism sector recover.
• People in the tourism industry will be given working capital or personal loans to help them pay off debts or relaunch their businesses.
• A total of 11,000 registered tourist guides/travel and tourism stakeholders provide financial support.
• According to FM, sector-specific specifics would be finalized after an assessment of future needs.
• Emergency Credit Line Guarantee: Additional Rs 1.5 trillion has been announced by the FM for the Emergency Credit Line Guarantee Scheme, which was established as part of the Atmanirbhar Bharat package.
• According to the FM, Rs 2.69 trillion worth of credit has been issued under the ECGLS plan thus far.
• Individual borrowers will be eligible for MFI loans of up to Rs 1.25 lakh.
• For Covid-affected sectors, the FM provides a Rs 1.1 trillion credit guarantee.
• Today, we will unveil eight relief measures, four of which are brand new, and one of which is dedicated to health infrastructure (also new). According to FM, there are eight more items related to employment and growth.