Bangalore: The Karnataka Government is expected to provide for a one-time settlement, if possible with the support of the Centre, to solve the liquidity problems of small and medium industries. It will be a one-time grant, which will go a long way in turning around 18,500 small and medium industries in the State that have closed or are on the verge of closure.
Deputy Chief Minister B.S. Yediyurappa and Industries Minister Katta Subramanya Naidu said here on Saturday the one-time grant would be a big relief to small industries bogged down by huge debts. As per a formula that had been finalised, industries that had taken loans and were unable to repay both the capital and the interest would be eligible for the relief.