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Following is the text of the statement made by the Finance Minister Shri P. Chidambaram on Rajiv Gandhi Rehabilitation Package for tsunami affected areas, here today.
“It may be recalled that the Government of India has announced a relief package of Rs 2731.04 crore for the tsunami affected states of Tamil Nadu, Andhra Pradesh, Kerala and the Union Territory of Pondicherry. One of the main components of this package is a rehabilitation programme for fishermen to help them acquire fishing vessels and nets, and resume their livelihood.
Government has announced that this package, consisting of a subsidy component and a loan component, will be implemented through public sector commercial banks.
At a meeting with CMDs of Public Sector Banks yesterday, I have directed all public sector commercial banks to get ready to receive applications with effect from 1st February 2005. I have also directed that every application should, as far as possible, be disposed of within 48 hours.
The components of the rehabilitation package for fishermen are:
1.For purchase of boats with motors and net, assistance upto Rs. 1,50,000 with 35 per cent subsidy, and the balance 65 per cent as loan.
2.For mechanized boats, assistance upto Rs 20 lakh, with 35 per cent subsidy with a ceiling of Rs 5 lakh, and the balance 65 per cent as loan.
3.For repair to boats, a subsidy of 60 per cent with a ceiling of Rs 3 lakh, and the balance 40 per cent as loan.
4.In each of these cases, the loan will bear an interest of 7 per cent with the interest subsidy of 2 per cent in the case of regular payment by the borrower. There will be a moratorium period of 1 ½ years and the repayment period will be spread over 7 years thereafter.
Fishermen who were affected by the tsunami are advised to lodge their applications with the nearest branch of any public sector commercial bank. The Government of India has advised the Chief Secretaries and Relief Commissioners and District Collectors in the affected States/Union Territory to take immediate steps to assist the fishermen to lodge their applications with the public sector commercial banks.
CMDs of public sector commercial banks have been advised to station a senior officer in the affected States/ Union Territory to ensure that the disbursal of subsidy-cum-loan takes place smoothly, speedily and efficiently. Both the subsidy amount and the loan amount will be disbursed by the bank itself.
I may assure the affected fishermen that I shall personally monitor the implementation of the rehabilitation package by the public sector commercial banks.”
BSC/BY- 30/05
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