Finanzministerin Nirmala Sitharaman
Finance Minister Nirmala Sitharaman said on Tuesday that government-guaranteed loans for Covid-affected sectors would help build health infrastructure and associated relief capacities to deal with a possible third wave.
As part of the Covid Affected Sectors Loan Guarantee Program (LGSCAS) of Rs 50,000, banks would provide loans for the construction of health infrastructure in non-metro cities and smaller towns at a maximum interest rate of 7.95 percent. The program applies to all eligible loans sanctioned between May 7, 2021 and March 31, 2022.
Sitharaman said the center is holding discussions with industry and service stakeholders to ensure that economic recovery is well supported. “There is still a need for more trained doctors, more nurses, testing facilities and a paramedic support system to ensure that the effects of Covid-19 are contained.”
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“… So this loan guarantee scheme covers, I would say, almost 70 percent of the requirements for a possible third wave, we want to prevent that … we all have to make the right efforts together to get the facilities in hospitals up,” she said at an online -Event to modernize the health ecosystem organized by the Ministry of Finance, Ministry of Health and NITI Aayog.
“We need to have Tier 2 and Tier 3 cities and towns properly equipped,” the FM said. The center launched LGSCAS in June to provide financial guarantees for the expansion of fallow land and greenfield projects related to the health and medical infrastructure.
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