Lockdown 4.0: Cabinet Okays stimulus package, airlines to begin operations from May 25

The Union Cabinet cleared the special liquidity schemes of Rs. 3.3 lakh crores for stressed non-banking financial companies (NBFCs), housing finance companies (HFCs) and micro, small and medium enterprises (MSMEs) whose finances were deteriorated significantly due to the outbreak of Covid-19.

Out of the total sanctioned amount, Rs 30,000 crore will be used to fund stressed NBFCs and HFCs, while three lakh crore at a concessional rate of 9.25 percent has been kept separately for the MSMEs.

This is a post-facto clearance from the Cabinet as the scheme was already announced as part of the Finance Minister Nirmala’s tranche of the Rs 21 lakh crore COVID-19 economic relief package that was hinted during Prime Minister Narendra Modi’s last nation address.

On the other hand, making a major move, the Civil Aviation Ministry has decided to begin the domestic flight operations from May 25, offering some relief to the struggling economy in the midst of the pandemic.

For using the resumed flight operations, passengers will have to download the Aarogya Setu app mandatorily.

“Domestic civil aviation operations will recommence in a calibrated manner from 25 May. All airports & air carriers are being informed to be ready for operations from 25 May. SOPs for passenger movement is also being separately issued by the Ministry,” tweeted Civil Aviation Minister Hardeep Singh Puri.

The aviation sector has been grounded since March 25 in a  measure to combat the spread of novel coronavirus.

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