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Kerala announces ₹560 million Covid-19 bailout package
Amid the high volume of Covid-19 cases and frequent shutdowns, the Kerala government on Friday announced a financial package of ₹565 million to revive the economy that is reeling under the impact of the pandemic
Amid the high volume of Covid-19 cases and frequent shutdowns, the Kerala government on Friday announced a financial package of ₹565 million to revive the economy that is reeling under the impact of the pandemic.
On Friday also the state reported over 20,000 cases, according to the state health ministry. When 1,52,639 samples were tested, 20,772 turned positive for the virus with a test positivity rate of 13.61%. For the last four days, the state has been reporting over 20,000 virus cases, accounting for more than half of the total cases in the country.
Announcing the bailout package in the assembly, state finance minister KN Balagopal said the government is committed to helping people whose lives were crippled by the onslaught of virus. He said the government will subsidise loans and two new schemes were announced under the state-run Kerala Financial Corporation and Kerala State Financial Enterprises.
“We will give loans to small-scale traders, entrepreneurs and framers. The government will bear an interest of four per cent for six months for loans up to ₹2 lakh. This will be a big boost to farmers, small-scale traders and others,” he said, adding the government will also give concession in rent and power charges to tide over the crisis. The state has witnessed a series of suicides last week.
“We have requested banks also to provide loans at a cheaper rate and not to insist for dues in the prevailing situation,” he said, adding that the government will give loans up to ₹10 million at five per cent interest to 500 small enterprises this year. This is the third package announced by the LDF government, he said.
But the opposition said it was only a gimmick and asked the government to give details of the earlier packages. “We know the fate of earlier packages. This will remain only in announcements,” said opposition leader VD Satheesan.
As Covid-19 cases gallop, experts and medical bodies have asked the state government to conduct more genetic studies and seroprevalence surveys to confirm the presence and depth of various strains in the state.
“We are depending heavily on the Indian Council of Medical Research for serosurvey and other tests. We all know the ICMR is taking a small number of samples and doing it randomly. The state can do such things elaborately to get a clear picture,” said Indian Medical Association Kerala chapter secretary Dr P Gopikumar.
Meanwhile, the 6-member central experts’ team headed by the chief of the National Centre for Disease Control Dr SK Singh will be arriving in the state later in the night.
