Union Budget 2022: Emergency credit guarantee scheme extended to help Covid-hit sectors


Finance Minister Nirmala Sitharaman has announced boosting the emergency credit guarantee scheme to help Covid-hit sectors.

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Presenting the Union Budget 2022, Finance Minister Nirmala Sitharaman announced boosting the emergency credit guarantee scheme to help Covid-hit sectors.

“Emergency credit line guarantee scheme has helped MSMEs. Hospitality and related services are yet to recover from Covid. ECMGH extended up to march 2023; guarantee cover for the hospitality sector extended by Rs 50,000 crore,” says FM.

Meanwhile, Finance Minister Nirmala Sitharaman presents her fourth Union Budget as India looks for a booster dose to the economy after a Covid-battered year.

The budget comes days before the first phase of voting in Uttar Pradesh, which along with four other states is going to the polls to elect a new state government.

The Indian economy is estimated to expand 9.2 per cent in the fiscal year that ends in March, following a contraction of 7.3 per cent in the previous fiscal.

Indian households are grappling with inflation at a time when jobs and incomes have taken a hit from the pandemic.

Also read: Budget 2022 LIVE | 400 more Vande Bharat trains in 3 years: Sitharaman

Click here for IndiaToday.in’s complete coverage of the coronavirus pandemic.



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