Loan Guarantee Scheme for Covid Affected Sectors (LGSCAS)

Subject – Economy

Context – Loan guarantee scheme to make healthcare infra third wave-ready: Nirmala Sitharaman.

Concept –

Finance Minister Nirmala Sitharaman said government-guaranteed loans for Covid-affected sectors would help in building healthcare infrastructure and related capacity to help deal with a possible third wave.
Under the Rs 50,000-crore Loan Guarantee Scheme for Covid Affected Sectors (LGSCAS), banks would provide loans for building healthcare infrastructure in non-metro cities and smaller towns at a maximum interest rate of 7.95 per cent.
The scheme will be applicable to all eligible loans sanctioned during the period from May 7, 2021 till March 31, 2022.