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Sitharaman expands credit relief, unveils new Covid-19 recovery package

Expanded credit guarantee program includes Rs 50,000 crore for the health sector; additional spending to focus on children.

State-owned banks have sanctioned loans, which have 100 per cent sovereign guarantee on defaults, worth Rs 17,706 crore in total
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Bloomberg | Vrishti Beniwal
India unveiled more support measures for the pandemic-hit economy, including a 50% expansion in its emergency credit program, as well as support for the health care and tourism sectors.
 
The announcement Monday by Finance Minister Nirmala Sitharaman comes as India’s states start lifting restrictions amid a decline in coronavirus infections after the country suffered the world’s worst Covid-19 surge.

The measures will support Asia’s third-largest economy as it begins to show signs of recovery after a record contraction during the first wave of the virus last year and a second, much more intense wave earlier in 2021.

The expansion in

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First Published: Jun 28 2021 | 4:59 PM IST

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