Consider the following statements:
1. Loan Guarantee Scheme for Covid affected sectors (LGSCAS) with a Corpus of Rs. 2,000 crore was launched in 2021 for providing credit guarantee coverage to lending institutes for loans to projects under health care sector
2. The scheme provides credit guarantee of 50 percent to all greenfield projects and 75 percent to all brownfield projects to be set up at the centres other than metropolitan cities.
3. For aspirational districts, the guarantee cover will be 50 percent for both brownfield expansion & greenfield projects.
4. For aspirational districts the guarantee cover will be 75 percent for both brownfield expansion & greenfield projects.
Which of the statements given above is/are correct?
Loan Guarantee Scheme Details Verified
Statement 1 is correct. The Loan Guarantee Scheme for Covid affected sectors (LGSCAS) was indeed launched around 2021. It featured a corpus of Rs. 2,000 crore aimed at providing credit guarantee coverage to lending institutions for loans directed towards projects within the healthcare sector, supporting recovery and growth post-Covid.
Aspirational Districts Guarantee Cover
Statement 4 is correct. For projects located in aspirational districts, the LGSCAS provides a significant guarantee cover. Specifically, it offers a 75 percent guarantee for both greenfield projects (new projects) and brownfield expansion projects (expanding existing facilities).
Incorrect Scheme Provisions
Statements 2 and 3 are incorrect. Statement 2 misrepresents the general credit guarantee percentages and conditions applicable outside metropolitan areas. Statement 3 provides an incorrect guarantee percentage (50 percent) for aspirational districts, which contradicts the actual provision detailed in statement 4.
Therefore, only statements 1 and 4 accurately describe aspects of the LGSCAS.
Important Questions from Government Policies and Schemes
Which organization is under the Ministry of Statistics, Planning, and Programme Implementation?
“Adopt a Heritage: Apni Dharohar, Apni Pehchaan” scheme is a joint effort of _______.
Which of the following schemes launched by the present government has been correctly matched with its purpose?
Mission Indradhanush aims at ______.
PRASAD scheme is launched in which year?
