FM Nirmala Sitharaman announced relief measures: Current Affairs Special Series

Team Adda247 and BankersAdda are here with a Current Affairs Special Series. In this series, candidates will be introduced to current affairs topics daily, which will not only improve their general awareness but also will ensure that the candidates do not lack in any current affairs topic. Today’s Current Affairs topic is FM Nirmala Sitharaman announced relief measures.

FM Nirmala Sitharaman announced relief measures

Finance Minister Nirmala Sitharaman has announced a new economic and growth measures amid second wave of Covid-19 in India. She also said that, the announcement would be come for eight relief measures in which four are absolutely new amid the second corona virus wave in India.

Here is small review of relief schemes announced:

Scheme to revive Tourism: Financial support will be extended to more than 11,000 registered tourist guides and Travel & Tourism stakeholders (TTS). Under this, TTS will take up to Rs.10 lakh loan while Licensed Tourist guides will get up to Rs.1 lakh loan. The intension behind this scheme is to help the tourism stakeholders survive the second wave of Covid-19. 

As tourist visa issuance is resumed as per covid situation, first 5 lakh tourist visas to be issued totally free of charge. This will continue till March 31, 2022 or till the first 5 lakh tourist visas get covered, whichever is earlier. One tourist can avail the benefit only once.

Extension of Atmanirbhar Bharat Rozgar Yojana: The scheme to incentivise job creation and restoration has now been extended from June 30, 2021 to March 31, 2022. More than 21.4 lakh people of nearly 80, 000 establishments have already benefited from the scheme. 

Additional outlay for Bharat Net Project: Rs.19, 000 crore additional outlay for Bharat net project that will enable extension of Bharat Net broadband connectivity to all remaining villages. More than 1.56 lakh out of 2.5 lakh gram panchayat has already been connected or service-ready. 

Production linked incentive scheme: To incentivise large-scale electronics manufacturing has been extended by one year, till 2025-26. The investments made in 2020-21 will continue to be covered. Companies can select any five years for meeting production targets.

New process for PPP Project: It is announced in FM Sitharaman’s conference. It will consist of ‘Appraisal, Approval, Monetization’ for speedy clearances, to bring in private sector efficiency and streamline the process, in place of long and multi-level approval process. This scheme is for core infrastructure projects including through Infrastructure Investment Trusts.