Ministry of Finance announces key schemes to boost economy

29 Jun 2021 CW Team

Minister of Finance Nirmala Sitharaman has announced eight economic relief measures for sectors hit by the second wave of the Covid-19 pandemic, to boost the economy, focusing primarily on tourism and the health sector.

Some of the key announcements made by Nirmala Sitharaman are: The Atmanirbhar Bharat Rozgar Yojana (ABRY) has been extended from June 30, 2021, to March 31, 2022.

The government has increased the scope of the emergency credit line guarantee scheme as Rs 1.5 lakh crore has been added to the existing corpus of Rs three lakh crore. A new credit guarantee scheme to facilitate loans to 25 lakh people through microfinance institutions (MFIs) was announced.

The lending of Rs 25 lakh was announced, focusing on new lending and not on repayment of old loans.

Visas will be provided free of cost to the first five lakh travellers coming to India on the resumption of international travel. The scheme will be applicable till March 31, 2022.

A new loan guarantee scheme will support 10,700 regional-level tourist guides and travel and tourism stakeholders.

An expenditure of Rs 93,869 crore will be used for the distribution of ration to poor people, taking the total money allocation to Rs 227,841 crore in Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY).

Rs 23,220 crore has been allocated for public health, with the key focus on paediatric care for the current financial year.

Nearly Rs 15,000 crore additional subsidy for protein-based fertilizer for farmers.

Image Source

Also read: India’s global economic recovery positive: EY report

Also read: India to become global economic powerhouse: Nirmala Sitharaman

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..