The Union Cabinet Thursday approved the proposal of waiving up the outstanding loans along with imposed interests for the 370 tsunami-affected fishermen of the Andman and Nicobar Islands.
The outstanding amount on the date of settlement will be reimbursed to the concerned banks, according to approved proposal.
As on 31-03-2012, tsunami affected fishermen of Andaman and Nicobar Islands had outstanding loans plus interest thereon amounting to Rs. 2.10 crore and the amount outstanding at the time of settlement will be reimbursed to the concerned banks.
About 370 tsunami-affected fishermen of Andaman and Nicobar Islands will be benefitted.
With the population of the islands being tribals, settlers or migrants from mainland and being economically weak the Andaman and Nicobar administration had recommended waiver of the entire loan granted to fishermen for repair, replacement and up gradation of boats damaged due to the tsunami, along with accrued interest.
Andaman and Nicobar administration will commence the task of waiving the loans of the beneficiaries immediately. This will benefit all such beneficiaries who are tribals, settlers or migrants from mainland and are economically weak.
The government approved a package of Central Assistance of Rs.821.88 crore in respect of the tsunami-affected areas of Andaman and Nicobar Islands under 'Rajiv Gandhi Rehabilitation Package for Tsunami affected areas' after tsunami of December 26, 2004.
As per the above-mentioned package, an amount of Rs.15.01 crore had been approved for fisheries sector, which included Rs. 2.53 crore for construction of cold storage.
The package for fisheries sector was as under: fifty percent subsidy and balance as loan for replacement/upgradation of boats plus motor up to unit cost of Rs.2.00 lakh + boat transportation cost of Rs. 35,000, Up gradation/replacement of Local Made Donghies to opt Engine Fitted Donghies, subject to a maximum subsidy of Rs.1.00 lakh each per unit + transportation cost Rs.35, 000/- (balance as loan), sixty percent subsidy with a ceiling of Rs. 65,000/- and balance as loan for repair of boats with motors.
--With IANS Inputs--
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