Loan Guarantee Scheme for Covid Affected Sectors (LGSCAS), which received nod from the Union Cabinet, provides financial aid for brownfield expansion and greenfield projects focusing on health and medical infrastructure development. It will help the country’s healthcare system to support the rising number of COVID-19 cases.
It will be applicable for all eligible loans sanctioned up to March 2022 or until an amount of Rs.50,000 crore is sanctioned, whichever comes first. Its main aim is to minimise the credit risk and support loans with low interest rates. It is expected to boost employment opportunities within the health sector.
Written by IAS POINT