Covid Relief Fund for farmers and small scale business men announced by finance minister | Covid Relief Fund: Kovid announces financial package for farmers and small traders

Thiruvananthapuram : Kovid announces financial package for farmers and small traders in the wake of the severe financial crisis following the second wave. While the lockdown restrictions are being phased out and the Kovid expansion rate is being eased, the state government has said it needs to address the issue of financial relief for minors.

Of Kovid expansion (Covid 19) The state government had put forward relief packages in both the phases. As part of this, measures were taken to ensure proper disbursement of welfare pensions and interest relief on loans. The package has now been announced for retailers, industrialists and farmers affected by the second wave of Kovid.

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As part of this, loans of Rs. 2 lakhs or less from Central and State Financial Institutions, State Financial Institutions, Co-operative Societies and Commercial Banks (Loan) Up to 4% of the interest will be borne by the State Government for a period of six months. This interest relief can be applied to loans taken from August 1.

In addition, the government is waiving the rent of the rented rooms for the period from July to December 31. Building tax for small businesses (MSMEs) is exempt from July to December.

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These institutions will be exempted from electricity fixed charge and government rent during this period. Various schemes will be implemented to provide relief to those in financial crisis due to KSFC Kovid.

From 20.1.2021, the default interest on all loans made by KSFE will be waived till September 30. Fifty to one hundred per cent interest and penalty will be waived on the debtors of the chit depending on the term till September 30.

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The term of the loan of up to Rs 1 lakh has been extended to 30.9.2021 at a rate of five per cent for families affected by Kovid. In the context of Kovid, KFC is announcing three projects for industrial revival. This is in addition to the plans announced in July‌.

The ‘Startup Kerala’ loan scheme has been sanctioned for loans up to Rs 1 crore without collateral security. For this KFC will set aside `50 crore. Special loan scheme for enterprises in various industrial estates in the State. Under this scheme, up to `20 crore is allotted for a project,` 500 crore will be set aside.

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Kovid plans to lend up to 90 per cent of the project cost on a generous basis to companies that manufacture products that help prevent the spread of the disease and provide relief to patients. The benefits of the scheme will be available to all sectors involved in Kovid prevention in the field of health care.

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