Kerala Cabinet approves new debt relief scheme   

Thiruvananthapuram, Aug 19 (PTI) The LDF government inKerala today approved a new debt relief scheme for low incomeand poor people who face the threat of revenue recoveryproceedings after they fail to repay loans taken from variousfinancial institutions under the government. The scheme, expected to cause an additional burden of Rs40 crore to the exchequer, would benefit more than 10,000persons, an official release issued after the Cabinet meetingsaid. Chief Minister Pinarayi Vijayan gave instructions toofficials to prepare a comprehensive one-time debt reliefscheme in the wake of several memoranda received from personswho face revenue recovery proceedings, it said. The relief is for those who had taken loans from theState Housing Board, Scheduled Caste and Scheduled TribeBackward Welfare Corporation, State Women’s DevelopmentCorporation, The Kerala State Handicapped Persons WelfareCorporation and Revenue Departments. The principle amount, interest and penal interest on loansup to Rs 5 lakh would be waived, the release said. Besides, those who face recovery proceedings even afterremitting one and half times more than the principal amount ofloan would also be given concessions. The loan repayment period also would be rescheduled, itsaid. PTI JRK APRABK