New Delhi: At a time when the tourism sector has been among the worst-hit segments in the economy and small stakeholders have been facing financial difficulties, Finance Minister Nirmala Sitharaman, on Monday, announced that loans will be provided to registered tourist guides and other travel and tourism stakeholders with 100 per cent guarantee.
Loans of up to Rs 1 lakh would be available with guarantee to tourist guides licenced at regional or state level. A total of 10,700 regional level tourist guides recognised by the Minister of Tourism and state governments would benefit from the scheme.
Further, loans with an upper limit of Rs 10 lakh would be available with 100 per cent guarantee to travel and tourism stakeholders such as travel agencies.
A total of 904 stakeholders recognised by the Ministry of Tourism would be under the ambit of the loan guarantee scheme.
The Finance Minister said that under the new loan guarantee scheme for Covid affected sectors, working capital or personal loans will be provided to people in tourism sector to discharge liabilities and restart businesses impacted due to Covid-19.
She also announced a Rs 1.1 lakh crore loan guarantee scheme for Covid-affected sectors.
The scheme would include Rs 50,000 crore loan to the health sector aimed at scaling medical infrastructure targeting underserved areas.
The scheme would entail guarantee cover for expansion and new projects related to health and medical infrastructure in cities other than eight metropolitan cities.
For aspirational districts, the guarantee cover would be 75 per cent for both new projects and expansion.
The maximum loan amount under the newly announced scheme would be Rs 100 crore and the duration of guarantee would be up to three years.
The interest rate for the loans would be capped at 7.95 per cent.
Sitharaman also said that the guarantee would be provided by National Credit Guarantee Trustee Company Ltd.
Under the scheme, loans worth Rs 60,000 crore would be allowed for sectors other than health at an interest rate capped at 8.25 per cent per annum.
The normal interest rate without the guarantee cover is 10-11 per cent.