Cabinet approves ₹6.29 lakh crores COVID-19 relief package

  • On Wednesday, the Union Cabinet approved ₹6.29 lakh crores COVID-19 relief package to support people combat pandemic.

  • The package was announced by the Union Finance Minister of India Nirmala Sitharaman.

  • The Union Information & Broadcasting Minister Prakash Javadekar informed about the decision after the meeting.

  • On Monday, the Finance Minister announced new economic measures that will help in reviving the Indian economy.

  • These measures include a ₹1.1 lakh crore credit guarantee scheme for improving health infrastructure, increase in the ECLGS limit by 50% to ₹4.5 lakh crores for the MSME sector facing a cash crunch.

  • Several other economic measures were announced to support economic growth.

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