Jammu, January 25, (Scoop News)-Keeping in view the severe difficulties being faced by the business community consequent to the recent floods in the State, the Governor, N.N. Vohra, has addressed the Union Home Minister for an urgent decision regarding the allocation of funds for provision of relief to the small business enterprises, a proposal regarding which is contained in the comprehensive Rs. 44,000 crore package submitted by the State Government to the Government of India in October, 2014.
In his communication to the Union Home Minister, the Governor has pointed out that it would be extremely difficult for the small business units to be able to revive their activities as they do not have any banking facility, nor any insurance cover. He has stressed that such units can be revived only if the government provides them some financial assistance as their survival depends entirely on their day to day business.
The Raj Bhavan Spokesman recalled that the Governor had undertaken a day long assessment of the post flood situation when he visited Srinagar last week. He had gone around the Srinagar city after meeting a large number of delegations who had apprised the Governor about the varied difficulties faced by them. During their meeting with the Governor the representatives of the business community had expressed deep resentment that no assistance had been provided to them.
For the reconstruction of the damaged infrastructure, the State Government had formulated a comprehensive financial package proposal seeking financial assistance from the Centre. This package was forwarded to the Union Home Ministry in October, 2014 for urgent consideration. The package forwarded by the State Government includes proposals for revival of the economy through grant of moratorium on the repayment of existing loans, interest remission and provision of fresh loans at concessional rates of interest, besides provision of graded cash incentives, keeping in view the turnover of the business establishments which are to be assisted.