Hooda waives interest of Rs 4.68 crore for artisans

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Chandigarh, Jun 7 (UNI) Haryana Chief Minister Bhupinder Singh Hooda today announced to waive the interest amount of Rs 4.68 crore of 1894 small entrepreneurs, rural units and artisans so as to motivate them to deposit the principal loan amount.

He informed that it had also been decided to waive the principal as well as the interest amount of about Rs 5.75 crore of 2880 expired, untraceable and incapable loanees.

The Chief Minister said the Industries Department had provided financial assistance to these entrepreneurs in shape of loan and subsidy under different schemes since 1966.

The loan was given to the beneficiaries under the schemes Margin Money, Seed Money, State Aid to Industries Act and Mewat Development Agency.

Mr Hooda said due to the non payment of funds by the beneficiaries, the loan amount given to them had increased manifold thus making them unable to pay the principal and penal interest.

As a sympathetic gesture, relief was given to these loanees by waiving their interest amount. At the same time it would result in immediate recovery of balance principal amount of the loan, he said.

While enumerating the details of the loanees, Mr Hooda said out of 4774 loanees who had availed loan under different schemes since 1966, the outstanding amount of 2880 beneficiaries could not be recovered due their being expired, untraceable and incapable.

Hence, it had been decided to waive both their principal amount of Rs 90.62 lakh and interest amount of Rs 4.84 crore.

The Chief Minister said the total amount was sanctioned Rs 2.78 crore to 4774 beneficiaries in the State under various schemes since 1966 by the Industries Department.

The principal amount recovered from them was Rs 1.38 crore while interest of Rs 1.68 crore was recovered from them, Mr Hooda said, adding that principal amount of Rs 1.40 crore and interest of Rs9.52 crore was to be recovered from them.

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