HP Cabinet approves interest subvention scheme to revive tourism industry

The Himachal Pradesh government has approved interest subvention scheme on loan to revive the tourism industry, an official spokesperson said.

Under the Interest Subvention Scheme, tourism units paying GST up to Rs 1 crore will be entitled for maximum loan of Rs 50 lakh and those paying GST between Rs 1 crore and Rs 3 crore for at least one year ending 31st March, 2020 will be entitled for loan up to Rs 75 lakh, he added.

Units paying GST above Rs 3 crore will be eligible for loan of Rs 1 crore and small registered tourism units will also be eligible for maximum loan of Rs 15 lakh, he added.

This loan period will be for four years with interest subvention of 50 per cent each for the first two years, he added.

The cabinet in its meeting chaired by Chief Minister Jai Ram Thakur on Thursday also gave in principle approval to regularise the services of 6,500 PTA, 3,300 PAT and 97 PARA teachers engaged in various government schools, he added.

The Cabinet gave its approval to enhance support price of apple under Market Intervention Scheme (MIS) by 50 paise from Rs 8-8.50 per kg for 2020, he said, adding that under this scheme about 1.50 lakh MT apple would be procured from July 20 to November 15 for which 283 procurement centres would be opened in different parts.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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