New Measures will help stimulate economic activities, generate employment: PM Modi

Applauding the measures announced by the Finance Minister Nirmala Sitharaman to boost the economy, Prime Minister Narendra Modi on Monday said that the new measures will help stimulate economic activities, boost production and exports and generate employment.

In a series of tweets, Prime Minister Modi said, "Measures announced by FM @nsitharaman today will enhance public health facilities, especially in under-served areas, boost private investment in medical infrastructure and augment critical human resources. Special focus is on strengthening healthcare facilities for our children."

"Importance has been given to helping our farmers. Multiple initiatives have been announced which reduce their costs, increase their incomes and support greater resilience and sustainability of agricultural activities," the Prime Minister said.

"Further support has been announced for our small entrepreneurs and self-employed persons, to enable them to sustain their business activities but and expand them further. Several initiatives, including financial assistance, are being taken to help those linked with tourism," he tweeted.

"The measures will help to stimulate economic activities, boost production and exports and generate employment. Result linked Power Distribution Scheme and streamlined processes for PPP projects and Asset Monetisation demonstrates our Government's continuing commitment to reforms," he added.

Union Finance Minister Nirmala Sitharman on Monday announced several economic measures to revive the economy amid the COVID-19 pandemic.

With a focus on health and medical infrastructure, the Finance Ministry on Monday announced a Rs 1.1 lakh crore loan guarantee scheme for COVID-19-hit sectors. Out of the Rs 1.1 lakh crore, the health care sector will get Rs 50,000 crore, while the others will get Rs 60,000 crore.

The Centre also announced Credit Guarantee Scheme to facilitate new lending among the smallest borrowers and stated that this includes the 'stressed borrowers'.

As part of efforts to revive the tourism sector which has been hit hard due to COVID-19, Finance Minister Nirmala Sitharaman on Monday announced some measures including free tourist visas to the first five lakh tourists.

She said financial support will be provided to more than 11,000 registered tourist guides and travel and tourism stakeholders.

( With inputs from ANI )