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India’s Ministry of Finance has announced a 6.3-trillion rupee ($84.9 billion) relief package to support the nation’s economy in the fight against the Covid-19 pandemic.
The support measures, announced by Minister of Finance Nirmala Sitharaman on Monday, include the provision of loan guarantees of around $35 billion that are aimed at helping small businesses and sectors adversely affected by the pandemic.
According to Sitharaman, businesses in such sectors as health care and tourism are set to receive additional credit of $14.8 billion. Moreover, the emergency credit-line guarantee scheme will be expanded by another $20.2 billion (1.5 trillion rupees), from an earlier limit of 3 to 4.5 trillion rupees.