Balagopal announces loans for motor vehicle sector

A bonus of Rs 1,000 will be given to the employment guarantee scheme workers who have completed 75 days of work in the year.

Published: 14th August 2021 05:23 AM  |   Last Updated: 14th August 2021 05:23 AM   |  A+A-

Kerala Finance Minister KN Balagopal

Kerala Finance Minister KN Balagopal

By Express News Service

THIRUVANANTHAPURAM: Entrepreneurs in the motor vehicle sector will be given low-interest working capital loans to resume operations after the lockdown, Finance Minister KN Balagopal has said. The loan scheme will be similar to the one announced for traders earlier.Loans up to a maximum of Rs 2 lakh will be given, with government bearing 4% of the interest. The tax exemption for all stage carriers and contract carriers will continue for the April-June quarter, the minister said.

A bonus of Rs 1,000 will be given to the employment guarantee scheme workers who have completed 75 days of work in the year. The minister said the government’s special supply of Covid vaccine to private hospitals will help achieve universal immunisation at the earliest. A total of Rs 120 crore has been sanctioned to the Kerala Medical Services Corporation to buy 20 lakh doses for distribution through private hospitals.

“At present, only big private hospitals can afford to purchase vaccine. The government will buy vaccines from the paid pool of the manufacturer and distribute them through small and medium private hospitals in the rural areas. Mass vaccination drives using CSR funds will also be facilitated,” he said.

In the absence of adequate assistance from the central government, the state is struggling to roll out Covid relief measures. Still, three types of direct benefit transfer --- in cash, kind and revenue forgone --- are being done. Studies before the second wave had shown that the Covid-induced GSDP loss was 1.35 lakh crore and drop in government revenue was Rs 133,000 crore.Absence of welfare boards or any other distribution mechanism stands in the way of relief distribution to workers in various sectors like the hotel industry, he said.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp