Team Herald
PANJIM: The government has decided to re-introduce the Debt Relief Scheme for mining affected borrowers for a period of one-year.
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The scheme has been extended by the cabinet following requests by many borrowers who were in the lurch finding it difficult to repay loans due to closure of mining activity.
This time the scheme will be applicable to those who had not paid their amount and banks which had not submitted their claims with the State-run Economic Development Corporation (EDC) Limited for release of subsidy.
The EDC had been monitoring the processing of the scheme and had doled out crores of rupees to settle these accounts.
The scheme was first introduced in September 2014 after mining activity came to a halt wherein the government had provided for 35 per cent subsidy on loans with ceiling of Rs 15 lakh for tipper truck operators, Rs 25 lakh for mining machinery operators and Rs 35 lakh for barge owners to set off their debts.
The scheme was then extended twice to help the borrowers as they were finding it difficult to repay the loans obtained from banks.
The extended scheme will now come into force from the date of its notification.
