The Kerala government has announced a series of support schemes to the tune of Rs 5,650 crore for traders hit by Covid-19.
Interest subsidies, tax exemptions and rent waiver are the highlights of the schemes announced.
The announcements came close on the heels of traders stepping up demand for relaxing lockdown restrictions as the Onam festival is approaching.
A prominent traders' outfit already made a call to defy the lockdown restrictions from August 9. Acute financial problems being faced by traders owing to lockdown was cited as the reason by traders for making an open call for defying the restrictions like an alternate working day for many categories of shops.
As per the schemes announced by Finance Minister K N Balagopal on Friday, the state government will bear up to four per cent interest on loans up to Rs 2 lakh for six months from August. Rent for shops functioning in government buildings will be waived for five months. The exemption will be given in building tax for micro, small and medium units for five months.
The Kerala State Financial Enterprises will be waiving penal interest on defaults in loan repayment from January to September. A loan scheme of up to Rs 1 lakh for Covid hit families at a rate of interest of five per cent will be extended up to September.
The Kerala Financial Corporation will be also offering schemes for industrial units to revive.
Published 30 July 2021, 08:46 IST