Ashwanth Vidhya, Mumbai Uncensored, 30th June 2021:
On the 28th of June, Finance Minister Nirmala Sitharaman announced various schemes to improve the economy and revive sectors that have been affected by the lockdown introduced in the country due to the second wave of the pandemic. Millions lost their jobs as the economy was brought to a standstill and asymmetrically affected some sectors more than others. These measures were targeted at the health, tourism, Micro finance, Fertilizer, Export, Digital Connectivity, Electronics, Power Distribution sectors. A Guaranteed $14.8 billion loan for health infrastructure was announced along with steps like free visas for the first 500,000 tourists or till 31st March, 2022.
“This would incentivise short-term tourists visiting India,” she said while announcing the measures. Loans will also be provided to those businesses in the Tourism sector so that they can restart their businesses or reduce financial losses. This also serves as a relief for 11000 registered tourist guides and other tourism stakeholders.
Vikash Agarwal, The President of the Indian Chamber of Commerce ( ICC), praised the measures announced by the Finance Ministers and noted that some of them include the revival of North Eastern Regional Agricultural Marketing Corporation (NERAMAC) and the new ‘streamlined process’ for ensuring quick clearances for Public-Private Partnership(PPP) projects and asset monetization will improve and fasten the revival of the economy. “These are thoughtful and proactive steps by the Finance Minister” they said and applauded the government for introducing these schemes with a positive vibe.
