Union Cabinet approve Rs 6.28 lakh crore stimulus package announced by FM Nirmala Sitharaman

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The Union Cabinet gave approval to the stimulus package of 6 lakh 28 thousand crore rupees  announced by the  Union Finance Minister Nirmala Sitharaman as part of the Atma Nirbhar Bharat Package on Monday.

Addressing media after the Cabinet Meeting, Information and Broadcasting Minister Prakash Javadekar said that a Loan Guarantee Scheme of 2 lakh 60 thousand crore rupees comprising 1.1 lakh crore rupees  Loan Guarantee Scheme for Covid  Affected sectors and 1.5 lakh crore rupees for Emergency Credit Line Guarantee Scheme was given approval.

He informed that the interest rate on the loan will be will be in range from 7 per cent to 8.25 per cent.

In another decision, Mr Javadekar said,the government has also given approval to the announcement made regarding extension of  Pradhan Mantri Garib Kalyan Anna Yojana, PKGKAY from May to November this year.

The financial implication this year over the scheme  will over  93 thousand crore rupees.

Besides, the Union Cabinet also gave approval to the earlier announcement of  additional subsidy of over 14 thousand crore rupees for DAP and P&K fertilizers.

Mr Javadekar also informed that the Union Cabinet has also given approval to provide additional 19 thousand 41 crore rupees for BharatNet for broadband facility to each village through BharatNet PPP Model.