Loan Guarantee Scheme for Covid-Affected Sectors

Loan Guarantee Scheme for Covid-Affected Sectors (LGSCAS) was approved by the Union Cabinet recently. It will provide financial guarantee for brownfield expansion and greenfield infrastructure projects for boosting India?s healthcare sector. It will specifically target areas where the healthcare infrastructure is inadequate.
The scheme would be applicable to all eligible loans sanctioned up to March 31, 2022 or till an amount of Rs.50,000 crore is sanctioned, whichever is earlier. The scheme will help India address the shortage in the healthcare infrastructure and provide more jobs. It will minimize credit risk and provide for affordable loans for the infrastructure development.

Current Affairs