- The total financial implication of the free tourist visa plan would be ₹100 crore.
- The free visa will be available to a tourist, only once, coming to
India . - Indian government has also announced a loan guarantee scheme for registered tour guides.
India’s Finance Minister
The benefits will be available only once per tourist,
Besides this, the union government has also announced financial support to more than 11,000 registered tourist guides, and travel and tourism stakeholders. For instance, about 10,700 regional level tourist guides and travel and tourism stakeholders will be offered loans under 100% guarantee schemes.
These guides should be registered with the
Overall, Sitharaman has also announced a ₹1 trillion loan guarantee scheme for COVID-19 affected sectors like healthcare. In addition, the minister has announced an additional ₹1.5 trillion to the Emergency Credit Line Guarantee Scheme (ECLGS), which provides coverage to the banks, non-banking financial institutions (NBFCs) and other lending institutions.
The relief package announced today is for stressed loans through the credit guarantee scheme, which facilitates loans of up to ₹1.25 lakh per individual. The scheme aims to cover 25 lakh people through micro finance institutions (MFIs). The interest rate on each of these loans from banks is capped at marginal cost of funds-based lending rate (MCLR) plus 2%.
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