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Modi govt’s boost to ailing travel sector! FM announces free Tourist Visa to 5 lakh tourists; check details

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fiscal stimulus, nirmala sitharamanFinance Minister Nirmala Sitharaman (File Photograph: PTI)

Finance Minister Nirmala Sitharaman in a press convention in the present day beginning at 3 PM, is asserting some financial aid measures to spice up sectors worst affected by the second wave of coronavirus. The federal government and RBI (Reserve Financial institution of India) have been working in tandem to help the economic system for the reason that pandemic hit the nation in March 2020.

Sitharaman has lately introduced free vacationer visas within the press convention that may be given to the primary 5 lakh vacationers as soon as Visa issuance resumes. The scheme will likely be relevant until March 31, 2022 or until 5,00,000 visas are issued, whichever is earlier.

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The advantages of the scheme will likely be obtainable solely as soon as per vacationer. The scheme would have an important incentivising affect on quick time period vacationers who are available for only one month.
The full monetary implications of this scheme could be Rs 100 crore. As soon as the scheme expires, common charges for making use of for a visa will resume.

Aside from this, the centre on June 28 has additionally expanded the monetary help being offered beneath the Emergency Credit score Line Assure Scheme (ECLGS) by Rs 1.5 lakh crore. The general cap of admissible assure has been raised from Rs 3 lakh crore to Rs 4.5 lakh crore, FM Nirmala Sitharaman stated. FM has additionally introduced a further Rs 23,000 crore introduced for public well being with an emphasis on kids and paediatric care/paediatric beds.

The federal government had additionally introduced a number of aid measures throughout the first wave of coronavirus that included the primary stimulus bundle of Atmanirbhar Bharat which got here into power in Could 2020.

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