Finance Ministry on Sunday said that over 50 per cent of the target under Emergency Credit Line Guarantee Scheme has been disbursed. It also said that an additional credit of ₹30,000 crore to farmers has been made available.
All these are parts of 3 AatmaNirbhar Bharat Packages (ANBP), the progress of which was reviewed by the Finance Minister Nirmala Sitharaman with Secretaries of various Ministries and Departments.
Giving details about the progress, a Finance Ministry statement said as on December 4, under an Emergency Credit Line Guarantee Scheme (ECLGS), over ₹2.05 lakh crore was sanctioned to around 81 lakh borrowers, out of which over ₹1.58 lakh crore was disbursed to over 40 lakh borrowers. “It is expected that 45 lakh units can resume business activity and safeguard jobs through this scheme,” the statement said. The scheme intends to provide collateral free loan to businesses and industries fulfilling conditions such as outstanding loan as on February 29, 2020. The scheme has a target of providing credit of ₹3 lakh crore and will be operational till March 31.
Talking about the farm sector, the statement said that as on December 4, ₹25,000 crore has been disbursed under the special facility. The balance amount of ₹5,000 crore under the Special Liquidity Facility (SLF) has been allocated to Nabard by the RBI for smaller Non-Banking Financial Companies (NBFCs) and Non-Banking Financial Companies-Micro Finance Institutions (NBFCs-MFIs). The package has a provision for ₹2 lakh crore concessional credit to 2.5 crore farmers through Kisan Credit Cards (KCC).
In Phase I, 58.83 lakh KCC cards with KCC limit of ₹46,532 crore had been sanctioned. In Phase II, as on December 04, a total number of 110.94 lakh KCCs with KCC limit of over ₹1.07 lakh crore have been sanctioned. Under the ₹1-lakh crore Agri Infrastructure Fund for farm-gate infrastructure for farmers, the first sanction of ₹1,128 crore was made to over 2,280 farmer societies. Under the ₹15,000-crore Animal Husbandry Infrastructure Development Fund (AHIDF), a total 313 applications have been received and the same are under process. Similarly, for the ₹20,000-crore Pradhan Mantri Matsya Sampada Yojana (PMMSY), application for projects worth ₹6,445 crore were received, out of which projects worth ₹2,182 crore have been sanctioned till December 9. Another ₹322 crore for twostates and Phase-2 proposals of sevenStates/UTs are under process.
The statement mentioned that under ANBP, it was announced that Special interest free 50-year loans will be given to States for capital expenditure for ₹12,000 crore. As on December 7, 27 State governments have submitted proposals under the scheme for new and ongoing capital works/projects. Accordingly, projects amounting to ₹8,455.61 crore under Part-I and Part-II of the Scheme have been approved so far and an amount of ₹4,227.80 crore, as 1stinstallment, has been released to the States.
Real estate sector
Talking about real estate sector, the statement said under the Special Window for Affordable and Mid Income Housing (SWAMIH), 135 projects were approved with an outlay of ₹13,200 crore. This will result in completion of 87,000 houses/flats. AS much as ₹18,000 crore will be provided over the Budget Estimates for 2020-21 for (PMAY-U) through additional allocation and extra budgetary resources. This is over and above the ₹8,000 crore allocated already this year.