Finance Minister Nirmala Sitharaman on Monday, 28 June, announced new relief measures for the pandemic-hit economy as states across India eased lockdown restrictions amid a decline in COVID-19 cases.

The relief measures include expansion of the emergency credit line guarantee scheme or ECLGS, from Rs 3 lakh crore to 4.5 lakh crore and a new loan guarantee scheme for the healthcare industry, amounting to Rs 50,000 crore.

Apart from this, measures to boost the tourism sector with loan guarantees to stakeholders and free visas to the first 5 lakh tourists till 31 March 2022, were also announced

While the finance minister pegged the financial impact of these measures at nearly Rs 6.29 lakh crore, 'direct stimulus' to the economy was only a small fraction of this number.


The estimated additional spend is reportedly just 0.3 percent of the GDP since most of the relief measures are only in the form of guarantee loans and not all schemes are related to the current financial year but are spread out over several years.

This prompts the question: how impactful are these relief measures in the short term and why India, unlike advanced economies, continues to pump more funds into the supply side of the economy and not offer huge stimulus packages to households recovering from the trail of devastation left by the second wave?



Host and Producer: Himmat ShaligramGuest: Aditi Nayar, ICRA Chief Economist and Madan Sabnavis, Chief Economist at CARE Ratings.Editor: Shelly Walia
Music: Big Bang Fuzz
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<div>Finance Minister Nirmala Sitharaman on Monday, 28 June, announced new relief measures for the pandemic-hit economy as states across India eased lockdown restrictions amid a decline in COVID-19 cases.<br>
<br>

</div>
<div>The relief measures include expansion of the emergency credit line guarantee scheme or ECLGS, from Rs 3 lakh crore to 4.5 lakh crore and a new loan guarantee scheme for the healthcare industry, amounting to Rs 50,000 crore.<br>
<br>

</div>
<div>Apart from this, measures to boost the tourism sector with loan guarantees to stakeholders and free visas to the first 5 lakh tourists till 31 March 2022, were also announced<br>
<br>

</div>
<div>While the finance minister pegged the financial impact of these measures at nearly Rs 6.29 lakh crore, 'direct stimulus' to the economy was only a small fraction of this number.<br>
<br>
The estimated additional spend is reportedly just 0.3 percent of the GDP since most of the relief measures are only in the form of guarantee loans and not all schemes are related to the current financial year but are spread out over several years.<br>
<br>

</div>
<div>This prompts the question: how impactful are these relief measures in the short term and why India, unlike advanced economies, continues to pump more funds into the supply side of the economy and not offer huge stimulus packages to households recovering from the trail of devastation left by the second wave?<br>
<br>
<br>
<br>

</div>
<div>
<strong>Host and Producer: </strong>Himmat Shaligram</div>
<div>
<strong>Guest: </strong>Aditi Nayar, ICRA Chief Economist and Madan Sabnavis, Chief Economist at CARE Ratings.</div>
<div>
<strong>Editor:</strong> Shelly Walia</div>
<div><br>
</div>
<div>
<strong>Music:</strong> Big Bang Fuzz</div>
<div><br>
</div>
<div><strong>Listen to The Big Story podcast on:</strong></div>
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<div>Apple: <a href="https://www.youtube.com/redirect?q=https%3A%2F%2Fapple.co%2F2AYdLIl&amp;redir_token=G9sQMbbppKv-LEFD29gDyTmPMzt8MTU3MTM4MDU5NkAxNTcxMjk0MTk2&amp;v=xkpX1V6aUFo&amp;event=video_description">https://apple.co/2AYdLIl</a>
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<div>Saavn: <a href="https://www.youtube.com/redirect?q=http%3A%2F%2Fbit.ly%2F2oix78C&amp;redir_token=G9sQMbbppKv-LEFD29gDyTmPMzt8MTU3MTM4MDU5NkAxNTcxMjk0MTk2&amp;v=xkpX1V6aUFo&amp;event=video_description">http://bit.ly/2oix78C</a>
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<div>Spotify: <a href="https://www.youtube.com/redirect?q=https%3A%2F%2Fspoti.fi%2F2IyLAUQ&amp;redir_token=G9sQMbbppKv-LEFD29gDyTmPMzt8MTU3MTM4MDU5NkAxNTcxMjk0MTk2&amp;v=xkpX1V6aUFo&amp;event=video_description">https://spoti.fi/2IyLAUQ</a>
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<div>Deezer: <a href="https://www.youtube.com/redirect?q=http%3A%2F%2Fbit.ly%2F2Vrf5Ng&amp;redir_token=G9sQMbbppKv-LEFD29gDyTmPMzt8MTU3MTM4MDU5NkAxNTcxMjk0MTk2&amp;v=xkpX1V6aUFo&amp;event=video_description">http://bit.ly/2Vrf5Ng</a>
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<div>Castbox: <a href="http://bit.ly/2VqZ9ur">http://bit.ly/2VqZ9ur</a>
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<p>The Big Story is back with a second season!</p>
<p>The news culture of our times is noisy, crowded, and honestly so confusing. This is why we are coming every fortnight on your podcast platforms to help you make sense of the new and now. <br aria-hidden="true"><br aria-hidden="true">With two new hosts, Anjali and Prateek, the second season of The Big Story will feature longer and well-rounded discussions with experts across science, culture, technology, politics, and more. Tune in on your preferred podcast platform!   </p>
<p> </p>
<p><em>Millions of listeners seek out <a href="https://bingepods.com/">Bingepods</a> (Ideabrew Studios Network content) every day. Get in touch with us to advertise, join the network or click listen to  enjoy content by some of India's top audio creators.</em><br><em><a href="mailto:studio@ideabrews.com">studio@ideabrews.com</a></em></p>
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