Govt extends mining debt relief to 2027

Panaji: The state cabinet on Wednesday granted another extension to the debt relief scheme for mining-affected stakeholders. Chief minister Pramod Sawant said some truck and barge owners affected by the halt in Goa’s iron ore mining industry are yet to be covered and need financial assistance to clear debts from financial institutions.

The scheme has been extended until March 2027, he said.He added that this will be the last extension granted to the scheme.The scheme offers a 35% subsidy for settlement of loans taken from financial institutions to purchase mining assets.It was designed to assist those affected by the suspension of the iron ore mining industry in Goa from 2012 onwards, following Supreme Court directives related to illegal mining in the state.First notified in 2014, the scheme has been extended several times to provide relief to operators directly affected by the industry’s shutdown. It applies to borrowers who took loans for mining machinery (trucks, tippers, barges) before 2012 and were classified as defaulters due to the mining halt.Meanwhile, the cabinet also approved registering Ravindra Bhavan, Canacona, as a society and the revival of four posts in the department of new and renewable energy.Sawant said an amendment has been approved to benefit workers engaged by the forest department, CCP, municipalities, and autonomous bodies, where workers have been employed for more than seven years.