Cabinet clears COVID relief stimulus packages The finance minister Nirmala Sitaraman a few days ago announced COVID relief stimulus package and on Wednesday i.e 1 June 2021 the Union cabinet approved that package, said Prakash Javadekar, information and broadcasting minister. The scheme that has been approved includes a Rs 3.03 lakh revamped scheme for the power distribution sector, Rs 1.5 lakh crore additional sector has also been credited for small and medium business, and export insurance cover of Rs 1.22 lakh crore. The scheme includes more funds for the healthcare sector, as the second wave hit us drastically. It also includes loans to tourism agencies and guides, and waiver of visa fees for foreign tourist. Under the energy distribution scheme country energy distribution organizations will get hold of presents every yr after they acquire the milestones agreed for the preceding fiscal. As in line with the five-yr programme, reforms-based, result-connected scheme for monetary help to discoms if a software is determined ineligible any yr, then the space in investment to finish its tasks will should be met through the discom or its country government. However, the unmet objectives for 12 months get introduced to the objectives for the subsequent yr. Power and renewable electricity minister R K Singh stated the five-yr scheme ambitions at 0 gaps in sales of discoms and discount of industrial losses throughout India to 12-15%. Singh stated this scheme isn't like the preceding schemes because it imposes situations earlier than disbursement of grant. The scheme is anticipated to put in 25 crore clever meters, 10,000 feeders and four lakh km of low tension overhead lines. Under the loan guarantee scheme for Covid-affected sectors, Rs 50,000 crore financial guarantee cover will be offered for brownfield expansion and greenfield projects related to health/ medical infrastructure.
